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Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session down by 2.03% to 1,253 points. As has been the established trend so far this week, the bigger ships have been taking the biggest toll, with Capesizes losing 3.24 percent on the day to just 1,345 points (Baltic Capesize Index), with daily rates still below break-even point, while the Panamaxes have also seen thin demand, with the Baltic Panamax Index retreating yesterday by 3.86% to 1,845 points, which is still way above the capesize segment, in yet another odd signs of the current times. On the positive side, Supramax owners have been enjoying the current robust demand for their carriers, with their rates up by 1.91% on the day.
Commenting on the Capesize market, Fearnley’s latest weekly report said yesterday that although there was a little more activity last week, this has slowed down and rates have fallen slightly. This combined with increased bunker prices result in even lower returns for owners. Despite an increasing number of vessels not trading the oversupply is still the major problem, and with new cyclones hitting major loading ports in East Australia the market becomes even more frustrated. Presently owners are willing to fix out their tonnage at usd 16000 per day for 12-month period, which is a considerable premium over the spot market, but these are new record low levels for this kind of fixture.
On the Panamax front it mentioned that “the positive trend from last week gradually faded out, lead by lack of fresh USG/ECSA grain requirements in the Atlantic, a sliding forward curve followed by a falling period market in the Pacific. Despite prompt vessels under pressure still some healthy numbers achieved in the Atlantic; typically 25000 + 500BB for Fronthaul and mid teens for transatlantic rounds. The Pacific saw rates coming off significantly to lower teens for Nopac rounds and a growing spread between spot- and period rates.
Charterers and operators are holding back and reducing their activity. Takers for longer periods clearly stand off as the forward curve test very low teens and most Owners still hope for a recovery to do high teens for same. On a positive note there is growing local enthusiasm with the commencement of the Nordic World ski championships in Oslo” said the shipbroker.
Meanwhile, the container market has yet to “recover” on the news of Maersk’s huge newbuilding order for 10 firm plus 20 optional 18,000 TEU container vessels. AP Møller has been in talks with DSME regarding the 18,000 TEU design for quite some time, and now finally confirmed. According to AP Møller, these vessels will burn 35% less fuel per container compared to the more standard 13,000 TEU container vessels operating today. In another report on the newbuilding market, Clarksons said that with the holidays now firmly behind us we continue to see the yards reporting new business being concluded. “As previously discussed, container enquiries in particular look to be the leading factor in generating this momentum as dry and wet remains relatively stagnant. With the container story continuing to press forward - this is ultimately inhibiting the shipyards willing to push pricing on other sectors and attempt to bridge the bid offer spread, that continues to stifle the potential for further volume.
In the short term, we don't anticipate this dynamic to change - and yards will want to exploit the shipbuilding demand that exists outside of dry and wet - and try to extend their forward orderbook coverage and take the pressure off themselves to yield to what is a weaker demand story so far. In terms of reported business; In Dry, Hanjin Shipping have contracted a pair of 180,000dwt Capesize bulk carriers at Daehan, these are scheduled for delivery in 2012 and the reported price for these is USD58.5 Mill per vessel. In China meanwhile, it has been reported that Shanhaiguan have won an order from Greathorse Shipping Holdings for 4 option 4 x 76,000dwt panamax bulkers, with the firm vessels due to deliver in 2H 2012 and 1Q 2013. It is understood that these vessels may have been signed at the end of last year and are only fully coming to light now” said Clarksons.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
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- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
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