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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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Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
Friday, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
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- Planning Commission, India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- Deloitte Consulting - India
- Bhatia International Limited - India
- The University of Queensland
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
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