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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, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
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- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Minerals Council of Australia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Planning Commission, India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
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