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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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- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
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