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Sunday, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session up by 1.05% to 1,443 points. The Capesize Index has inched higher, gaining 1.63% on Wednesday to reach 2,116 points, managing to stay clear ahead of the Panamax sector. Panamaxes were also higher by 2.01% with the relative Panamax Index now standing at 1,626 points. Up until a couple of weeks ago, Panamaxes were ahead of their larger Capesize counterparts, in a paradox of the latest circumstances prevailing in the dry bulk market for months.
In a latest update on the Capesize resurgence, US-based analyst Commodore Research & Consultancy said that approximately 108 dry bulk vessels were delivered in May, a significant increase from 71 vessels delivered in April. May saw the delivery of 29 handysize vessels, 36 handymax vessels, 22 panamax vessels, and 21 capesize vessels. In comparison, April saw the delivery of 14 handysize vessels, 20 handymax vessels, 20 panamax vessels, and 31 capesize vessels.
“Approximately 35 vessels were demolished in May, a small increase from 27 vessels demolished in April. May saw the demolition of 11 handysize vessels, 4 handymax vessels, 8 panamax vessels, and 12 capesize vessels. In comparison, April saw the demolition of 11 handysize vessels, 5 handymax vessels, 6 panamax vessels, and 5 capesize vessels.
The capesize market fared the best in May, registering a net addition of only 9 vessels (in comparison, April saw a net addition of 26 Capes). This is partially why Cape rates have been able to find support since the second half of May. The 12 Capes that were scrapped in May were the largest amount of Capes scrapped in a single month this year. In comparison, January to April saw an average of 6 Capes scrapped per month. May’s small net addition, combined with an increase in iron ore and coal demand seen throughout much of June, has helped average Cape rates rise from approximately $5,500/day at the middle of May to almost $14,000/day” said Commodore in its report.
In its latest weekly analysis of the dry bulk market, Fearnley’s said, referring to the Capesize segment, that “as most players were expecting a summer quiet market, the opposite is happening. West Australia/China route is stronger, in spite of only one of the big three appears to be active. Although little information in the market appears about last done levels, it seems mid 8s is the going level for this route. For Tubarao/Qingdao we see more activity as well, and bid/offer is presently usd 20,50/21.00 bss Tub/Qingdao. Short period is steady, with expectations for some further improvement, bid/offers for short period usd 12,000/12,500 dly” said the shipbroker.
In the Panamax segment, “despite recent signs of life in the Cape market, and spot levels on Panamax turning positive mid week, the sentiment in the Panamax market suffers from an underlying weak tone. Charterers are holding back and activity overall is limited. In the Atlantic prompt positions has been cleared out and rates are slowly climbing in mid teens. Grain orders still appear from ECSA, and runs to the Far East holding at 25 + 500 for ballasters or 22-23k bss Med positions. Owners are still suffering in the eastern hemisphere by lack of fresh requirements from both Aussie and NOPAC. Low volumes on coal with just a few Indonesian rounds still there, and short term expectations for coal is not encouraging. Pacific levels not at five figures yet. The FFA market is hovering around 12-13k for the next 12-18 months, maintaining similar levels for short/medium period where activity also is limited” said Fearnley’s.
Finally, on the Handy sector, it’s been “a quiet market with low activity for Supramax in the Atlantic this week, in particular for Cont/Med positions. NCSA-USG spot/prompt loaders also struggling to find employment. Ballasters from Indian Ocean adding pressure to the South Atlantic resulting in an overall negative trend.
The Pacific market is quiet. For Indo-India, Supras in south China are getting close to 11k. Nickel-ore rounds are getting firm rates in low-mid teens. Very quiet on iron ore front due to monsoons as WCI-China rates slided to 10k and from ECI around 9k.
Few Indian tonnage seen ballasting to Indonesia and RBCT. As a result, RBCT biz fixed on APS at around 20k. Red Sea, ferts on handymax/Supras are fixed at very mid 20´s pmt on voy bss to WC India. Period deals done at 14-15k for large Supras” concluded Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
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- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- PTC India Limited - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
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