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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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Tuesday, 19 July 11
82 MIO TONS OF COAL TO BE SUPPLIED FOR DOMESTIC MARKET
Indonesian Coal miners were required to supply 82 million tons of coal to Domestic market in this year. This is a 2.53 percent higher than last year ...
Monday, 18 July 11
IMFA BUYS A INDONESIAN COAL MINE FOR USD 8.7 M
Indian Metals and Ferro Alloys (IMFA), the largest producer of ferro chrome in the country, today said it has acquired 70 per cent stake in an Indones ...
Sunday, 17 July 11
THE COAL PRICES ARE SOFTENING DUE TO LESS DEMAND - VISTAAR
COALspot.com: The markets were down last week with BDI down by 6.63 points and closing at 1,353 points. The most affected was Cape index which was d ...
Friday, 15 July 11
DRY BULK MARKET SUFFERS NEW BLOW, RETREATS EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell even lower yesterday on the back of lower demand for larger vessels, like Capesizes and Panamaxes. The industry’s ben ...
Friday, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
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- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- ASAPP Information Group - India
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