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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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Saturday, 23 July 11
FAR EAST /SE ASIA ROUTE GAINED US$ 3000 HIGHER THAN LAST WEEK - VISTAAR
COALspot.com - The BDI further softened to by 2.22 pct and closed at 1323 points. The Cape and Panamax index also softened and closed at 1841 points ...
Saturday, 23 July 11
PANAMAX MARKET FACED A LIMITED ACTIVITY IN ALL BASINS
Handy
Atlantic softening across all segments with little fresh enquiry ex Bsea/Cont/USG and ECSA. Trips to Far east remain healthy. More cargoes ex ...
Friday, 22 July 11
MARUBENI ACQUIRING 42.86% SHARE OF YTL JAWA POWER HOLDINGS
COALspot.com - Japan’s Marubeni Corporation acquisition 42.86% stake in YTL Jawa Power Holdings BV, which owns a 35% equity interest in Indone ...
Thursday, 21 July 11
INDIA IMPORTS 36.033 MILLION TONS OF INDONESIAN COAL TILL JUNE
COALspot.com - Indonesia shipped 28.27 Million tons of coal in June 2011, a 2.3 percent lesser than May export of about 28.962 million tons, I ...
Thursday, 21 July 11
COAL PRICES ARE AT US$ 120 A TONNE
COALspot.com - Indonesian coal production in 2011 is expected to reach 360 million tons or 5.8 percent higher than government's forecasts. The incr ...
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- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- VISA Power Limited - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- The University of Queensland
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
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