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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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Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
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- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Mercator Lines Limited - India
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