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Thursday, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured even if the world economy hadn’t undergone the worst recession in recent decades. With China’s moods and swings continuing to play a catalytical role in dry bulk rates’ volatility, things are expected to stay as they currently, at least until more nations like India and other emerging economies come forward and major economies return to their pre-recession levels of activity.
As a result of these conditions, with the added “bonus” of fears for a Chinese economy major slowdown, the Baltic Dry Index (BDI) remains trading at multi-year lows, declining by more than 20% since the beginning of the year. Yesterday, the index took another dive down to 1,420 points, a fall of 1.25% on a daily basis. All ship types were down as well, with Capesizes losing 1.63% and Panamaxes retreating yet again by 2.33%, on the back of Tuesday’s fall of 3.18 percent. Brokers said the market lacked direction due to slow business. In a report, Reuters said that earnings for panamaxes, which usually transport 60,000-70,000 tonne cargoes of coal or grains, have more than halved since the same period last year.
"We continue to believe that the order book will outweigh the impact of scrapping over the near-to-intermediate-term and keep dry bulk day rates under pressure," Wells Fargo Securities said in a note, quoted by Reuters.
In its weekly report, shipbroker Fearnley’s said, referring to the capesize market, that “the Pacific market has continued to rise on the back of last week´s strength. Driven by vessels delays the majors had to scramble to cover early positions and driving the West Australia freight rate up from a conference level in the mid/upper USD 7.00´s to high USD 9.00. Since then it has pulled back a bit but still trading in the upper USD 8.00 level. The Atlantic has also proven to be robust with levels now north of USD 14k daily on timecharter, and tonnage is still in tight supply. There were a few period deals done in the upper USD 11k´s for short period, and around USD 11k for a one year deal. Presently the market seems stable at today´s improved levels” said the shipbroker.
Regarding the ailing Panamax segment, it mentioned that it “continued its downward pointing curve this week with rates knocking off ard USD 1,000 in both hemispheres. It seems the Pacific has dried up with cargoes as rates just keep on declining. Several ows are now ballasting towards the ECSA grain cargoes to secure employment for their ships. In the Atlantic owners are getting more and more reluctant to leave the basin and this puts pressure on the rates. The Tarv´s are now being fixed in the region of USD 15k while the Fhauls are fetching around USD 22k. In the Pacific, rounds are being fixed at tick below USD 10k while the backhauls are getting a poor 5k level. The period market also took a dive this week with the MV CLARE 74,759 dwt/blt´05 being fixed with delivery Mizushima for 11/14 months at USD 12,750” said the report.
As for the smaller Handy/Supramax segment, Fearnley’s noted that “the Atlantic seems over supplied with tonnage on prompt positions. The sentiment is nervous but it could be better balance for mid July positions onwards. EC South America also softening assisted by ballasters from Indian Ocean. West coast India remains inactive due to monsoon in India. There has been no change in India, good vessel in EC India may see around USD 10k for an Indonesian round voyage and Richards Bay will see the same. Handymax/Supramax may see low/mid USD 20 for Red Sea/India business. In the Pacific large Supras are able to secure 10k for NoPac rounds with an underlying weaker tone for forward positions” concluded the shipbroker.
In its report, Reuters mentioned that brokers were watching for further developments in China, which is facing its worst power shortages in years and likely to have an impact on dry freight activity. Uncertainty over prospects for the world economy could also potentially hurt demand for raw materials said the agency.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 20 June 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2011 IS ON THE WAY
Press Release - Since the beginning of 2011, international commodity price has been in a high level, resulting in “TENSION” of energy co ...
Sunday, 19 June 11
S6 AND S7 ROUTES LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market seemed to be stabilizing and the BDI and Cape index was up marginally and closed at 1,423 points and 1,824 points ...
Sunday, 19 June 11
BUMI 1Q NET PROFIT INCREASES 16.5 PERCENT
PT Bumi Resources Tbk (BUMI), Indonesia's largest coal exporter that is 25% owned by London-listed Vallar Plc, reported a16.49% increase in net pro ...
Friday, 17 June 11
DRY BULK BREATHES SIGH OF RELEAF ON RENEWED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has caught a sign of relief from the middle of the week onwards, as the BDI (Baltic Dry Index) increased once again yesterday, t ...
Thursday, 16 June 11
BOOSTING THE USE OF LOW CARBON ENERGY FOR A BETTER WORLD
Bali, Indonesia host of world renewable energy congress – Indonesia, international conference & exhibition on renewable energy and energy ...
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- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Planning Commission, India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
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