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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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Thursday, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
Tuesday, 22 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
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- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
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