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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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Tuesday, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
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- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Australian Coal Association
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
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