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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, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
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- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Parliament of New Zealand
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