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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, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
Wednesday, 20 July 11
DRY BULK MARKET KEEPS ON FALLING ON SOFTENING CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated to lower ground on Tuesday, as the industry’s benchmark, the BDI (Baltic Dry Index) fell to 1,330 points, down b ...
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- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Planning Commission, India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
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