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