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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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Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
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- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
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