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Friday, 12 November 10
DRY BULK MARKET STILL ON A FREEFALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market failed to show any signs of life this week, with the Baltic Dry Index (BDI) still being on the red, now stretching more than 11 straight losing sessions. As of yesterday, the BDI stood at 2,366 points, losing 3.59% from the previous day. All of the various ship segments were on the red, but the main reason for this plunge has been the capesize sector, whose demise doesn’t seem to be over yet. The Capesize Index lost another 4.82% yesterday, thus bringing the whole market down again. As for the Panamax market, which could sail forward on the back of increased coal trade, such a trend has yet to be materialized.
In terms of the Panamax market, shipbroker Fearnley’s noted that it had a slow start to the week, but it is showing signs of a slow firming up in both hemispheres. “The continued Chinese appetite for coal keeps the Pacific strong with Pac rounds fixed in region 22/23k for N.China dely. With the weaker Atlantic market the backhaul rates have increased with approx usd 1000 in one week. In the Atlantic we also see more coal and grain cargoes for end Nov/early Dec dates - however number of available ships outnumbers the cargos for now and Tarvs are fixed in the 16/17k region while its rumored one fhaul at 30k+. The period market has been slow with little reported, but the interest is back for same” said the broker’s latest weekly report.
As for the Capesize market, it described its condition as slowly but steadidly softening, as demand just about fails to match supply on the main routes. “With Brazilian miners absent from spot market since some time, ballasters from F.East struggle to maintain levels on the Tubarao/China trade. The N.Atlantic market, however, seems to live a life partly of its own as early Cont/Med tonnage is tight. Australian miners are busy picking prompt ships for the W.Austr/China trade - levels nevertheless softening gently and average earnings for Pacific rounds coming in at usd 34.5k, down some 10% w-o-w. Period activity low as paper have failed to give support, and limited to short duration only - notable fixtures including 18k dwt/built 2010 done for 4-6 months at usd 37750 basis prompt delivery in China, also 176k dwt/ built 2010 for 4-6 months at usd 36k basis prompt delivery in S.Korea” said Fearnley’s.
Meanwhile, in its third quarter report issued this week, Knightsbridge Tankers commented on the dry bulk market, by saying that in spite of a net fleet growth of 11.8 percent (55.8 million dwt) the dry bulk segment has again surprised on the upside. Iron ore transport to China, which has been the fastest growing sea borne trade the last decade has even experienced a small decline the three first quarters this year compared to 2009. The combination of these two factors should cater for a lower utilization of the dry bulk fleet.
“However, other areas have contributed positively and overall demand has been able to absorb the vast number of newbuildings so far. We would like to emphasize three reasons, A) Strong increase in coal imports to China and India, B) Congestions and C) Chinese coastal trade. The Capesize spot market has experienced a lot of volatility during third quarter. Average earnings have been $26,233 per day, with a low of $12,000 per day mid July and a high of $ 41,000 per day early September. Asset values have softened slightly during the quarter. By the end of September 2010 the value of a five year old Capesize was $55.4 million compared to $60.4 million by the end of the previous quarter. Long term time charters are still holding up, one year time charter period is estimated to generate $30.000 per day for modern tonnage while five year time charter stands at approximately $27,500 per day” concluded the ship owner.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
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- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Australian Coal Association
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
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