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