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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, 02 September 10
PLN ASKED TO USE LOCAL COAL
Tempo Interactive reportd that, the Indonesian Mining Association Executive Director, Priyo Pribadi, has called on the state-run electricity company ...
Thursday, 02 September 10
NALCO OPEN TO EQUITY DILUTION IN $3.9 BN PROJECT IN INDONESIA
Business-Standard reported that, state-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium p ...
Thursday, 02 September 10
DRY BULK MARKET GAINS MOMENTUM TO INCREASE, WITH CHINA ONCE AGAIN TO THE RESCUE
With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the ...
Wednesday, 01 September 10
STC BAGS NTPC ORDER TO SHIP 12 MT COAL
My Digital FC reported that, The State Trading Corporation (STC) has bagged NTPC’s tender to ship 12 million tonnes coal from Ind&sh ...
Wednesday, 01 September 10
JAKARTA TO HOST MAJOR INTERNATIONAL MINING EVENT
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
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- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Planning Commission, India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
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