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Thursday, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI) was down to 1,328 yesterday, retreating by 0.15% on the day. Once again it was the bigger ships which suffered. The Capesize segment fell by 0.96% to 1,886 points, while the Panamax market was down by 0.32% to 1,536 points. Among the silver linings of the market was the Handysize/Handymax market with a gain of 0.43% to 695 points.
The first half of the year ended with the average value of the BDI standing at 1,372 points, down by 57 % from the first half of 2010 when the BDI was at 3,166 points and capesizes were earning $11,507/day more than today’s levels. “However, shipping investments have shown a 7% increase from the first quarter of the year with bulk carriers being protagonists in the secondhand market and containers dominating in the newbuilding scene” said Golden Destiny in a relative analysis.
It went on to mention that although bulk carriers have lost their strength in the secondhand and newbuilding market they are still holding the lion share in both markets, 35% of the total volume of transactions. “The lost of confidence is mainly attributable to the weak environment of the dry market as the BDI still hovers below the psychological barrier of 1,000 points mark and Chinese commodities’ demand appears not enough to absorb the ongoing flow of newbuilding deliveries. But, when the demand side will be rebalanced with the supply? The recovery of the market remains pending from the start of the year. During June, the BDI managed to gain a 6% month-on-month rise, but it seems that the high levels of 2010 are not yet feasible. Capesize time charter equivalent earnings have shown a 39.5% growth from May levels, but China’s high iron ore port stockpiles, barriers in electricity consumption and persistent high levels of commodities’ inflation cannot still narrow the gab with the supply side. According to data from the General Administration of Customs, China’s imports of iron ore fell to 51.09 million tones in June, compared with 53.30 million tones in May. The agency said that imports rose 19.3% year-on-year last month, versus the 24.8% rate expected by the economists. The June result was below the 28.4% rate in May and the lowest annual growth rate since the -6.4% posted in October 2009, which was the last of 12 consecutive months year-on-year declines that started in November 2008 after the global financial crisis” said Golden Destiny.
In a separate weekly report from shipbroker Fearnley’s, it was mentioned that the lack of direction in the Capesize market has continued this week, but now showing signs of weakening. “The West Australia market was struggling to decide which side of usd 8.00 the market should be, and fixture have been concluded on both sides, though the most recent reported is at a low usd 7. 75. Also the Front haul market was stable, just over the usd 20.00 mark, but has now dropped below and is not closer to usd 19.50pmt. The Atlantic again was living in its own world, but saw a significant down turn towards the end of the week, but has now stabilized at a healthier usd 13,000 level p/d. This market may not last as we suspect re-let charterers have cleared their tables pending the holiday season, but it should be noted that the tonnage supply is still tight. On the period front some more short period deals have been done in the usd 11,500-12,000 level which is only slightly down from the last rally. One can attribute this to fewer vessels idle (not trading) due to the low market level” said the shipbroker.
Referring to the Panamax market Fearnley’s said “it faced a slow start to the week, with limited activity in all basins. Atlantic rounds have stabilized around mid teens, however the north continent is somewhat tighter on tonnage, so this area might improve somewhat in the next few days. Ballasters for the Pacific are keeping the EC South American market down, in spite of quite a few cargoes out of that area. A few fresh cargoes emerged as well out of Indonesia and Aussie, but not enough to support any rise in rates for the time being. However the fall in rates seems to flatten out. With a tic more positive tone in both basins the last day, the end of the week may bring a steadier market, but this remains to be seen”.
As for the Handy market, “Atlantic softening across all segments with little fresh enquiry ex Bsea/Cont/USG and ECSA. Trips to Feast remain healthy. More cargoes expected for 1st half of August but this remains to be seen. Overall sentiment remains soft in Pacific, however few enquiries keeping market busy. For Indo-India, supras in South China are getting close to 12k. 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 cargoes seen from RBCT. As a result, RBCT biz fixed on ECI tonnage around 11k. Red Sea, ferts on handymax/ supras are fixed at very mid 20´s pmt on voy bss to WC India. Period deals done at 13k for large supras” concludedd Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 31 July 11
CAPES ARE TRADING BELOW $ 9500 PER DAY - VISTAAR
COALspot.com - The BDI further softened by 4.46 pct and closed at 1264 points which touched below 1300 points after long time. The Cape and Panamax ...
Friday, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
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- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
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