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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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- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Australian Coal Association
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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