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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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Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
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- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- The University of Queensland
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Deloitte Consulting - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
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