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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, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
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- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- White Energy Company Limited
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
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