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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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Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
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- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
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