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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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Thursday, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
Wednesday, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
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