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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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Wednesday, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
Monday, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
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- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
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- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
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- MS Steel International - UAE
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- CNBM International Corporation - China
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
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- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
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- Energy Development Corp, Philippines
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- Petron Corporation, Philippines
- Bangladesh Power Developement Board
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- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
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- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
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- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
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- McConnell Dowell - Australia
- Australian Coal Association
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- Minerals Council of Australia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- The University of Queensland
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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