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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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Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
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- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Minerals Council of Australia
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- The University of Queensland
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
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