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Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the “minus” area. Yesterday, the BDI ended down by 0.14% to 2,096 points, marking the fifth straight loss for the index. As it turns out, the gains witnessed in all other ship segments are offset by the negative impact of the capesize market.
According to a report released yesterday from Fearnley’s, there are currently hard times for capesize owners as levels – physically as well as derivatives – have dropped drastically across the board. “Spot demand is simply not enough to absorb the massive number of new entries that come in addition to the existing fleet. Average spot earnings down close to 25% w-o-w, coming in at around usd 26k. Pacific is hard hit in particular, with rates for rounds falling by almost 35% to usd 18k. Atlantic is holding up better, as the ballasters from Far East take most of the general beating – the North Atlantic tonnage/cargo balance is healthy in comparison. A few brave operators dare to book period tonnage despite the overall trend, with usd 28500 done just before diving into the abyss on 180kdwt/2009 for 12 months delivery China 5/15 Dec, also 172kdwt/2001 done for 3-5 months at usd 25k delivery retro China 14 Nov.
Uncertainty as to whether market about to find a floor or if this is turning into a complete collapse” warned Fearnley’s into what could become a very negative end to yet another turbulent year for the dry bulk shipping sector.Still, despite the Capes losses of 1.41% yesterday (on top of a near 6% loss the day before), all other smaller ship types appear on the upside, with Supramaxes proving to be the most resilient, as a result of increased coal trade. As for the Panamax market, it is now being fueled by some fresh orders and a lack of prompt tonnage, with the Atlantic market maintaining a positive trend this week.
Fearnley’s said that “TA rounds going in the low 20´s and Continent positions even able to reach mid 20´s. Fronthaul fixed at healthy 29k via Cape of G Hope. In the eastern hemisphere there is oversupply of tonnage and despite a fair amount of fresh coal requirements the market is sliding in the mid teen area. Short period market not very active, typically 4-6 months fixed at 18500. The sentiment has lost some optimism by the recent downturn in the Cape market and a slow decline on FFA´s – despite some signs of a recovery mid week. A relevant question is whether we are already facing a slow down for the coming X-Mas season” mentioned the shipbroker.
In earlier reports, this time from N.Cotzias Shipping Group, it appeared that the Handysize/Handymax era of troubles could very well be over. The Piraeus-based shipbroker said that what is worth mentioning is the stop of the very long constant falling run of the Handies that had recorded more than 34 days of negative Baltic Exchange sessions. During the course of the previous week, the first gains were recorded, while things have also kept improving during this week as well. Cotzias said that the Handies had experienced a two month fall, that reduced the relative Baltic Exchange’s index by more than 300 points and in percentage terms more than 30%.
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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- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Planning Commission, India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
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