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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, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
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Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
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Tuesday, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
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- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
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