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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, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
Tuesday, 08 March 11
US$ 8 BILLION WORTH OF INFRASTRUCTURE PROJECTS IN PIPELINE IN INDONESIA - WOOD MACKENZIE
India’s Increasing Demand for Thermal Coal Cannot Be Satisfied Without Emerging Coal Areas in Indonesia - Wood Mackenzie
At Coa ...
Tuesday, 08 March 11
INDIA'S VEDANTA TO ACQUIRE COAL MINES IN OVERSEAS
COALspot.com - India's Vedanta group is also looking at long-term off take agreements and possible acquire of coal mines overseas, the official sai ...
Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
The Jakarta Globe reported that, Government plans to require miners to give added value to their exported commodities could end up costing the count ...
Tuesday, 08 March 11
THE PANAMAX MARKET THIS WEEK FIRMED UP - BRS
Underlining the unpredictability of the current market, rates for all dry bulk segments swung up again last week. Stronger exports out of South Amer ...
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- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Australian Coal Association
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
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