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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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Wednesday, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power ...
Tuesday, 26 July 11
UT'S SALES COULD REACH TO 8000 UNITS BY THE END OF 2011
COALspot.com - Sales of Komatsu heavy equipment in the domestic market in the first half of 2011 rose 59 percent to 4333 units compared to the same ...
Monday, 25 July 11
INDONESIA STATE ELECTRICITY COMPANY HAS BURNED 19 MMT OF COAL FOR FIRST HALF OF 2011
COALspot.com - Indonesia's State Electricity Company and other IPPs have burned 19 million tons of coal for first half of this year said,Pamudji Nu ...
Monday, 25 July 11
AKR CORPORINDO TO PRODUCE 0.3 MMT OF COAL BY DECEMBER
COALspot.com - PT AKR Corporindo (AKRA) began producing coal from its mine in Muara Teweh, Central Kalimantan. The company is targeting to pro ...
Sunday, 24 July 11
AN INDIAN PORT SETS A WORLD RECORD FOR CONVENTIONAL COAL DISCHARGE
COALspot.com - Krishnapatnam Port has set a World record for discharging 106,171 tons of steam coal in just 24 hrs using the conventional unloading sy ...
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- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
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