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Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 percent and ending the session down to 1,498 points, or about half of where it stood a year back.
The biggest losses were recorded in the panamax front, which lost 1.87%, while the Capesize market was also down by 0.73 percent. Last week, the BDI closed at 1,520 points, with Capesize still earning just $10,554/day, while the smaller in size Panamax ship types were averaging a substantilly higher $15,463 on a daily basis. The even smaller Supramaxes have proven more resilient, earning their owners a daily average of $15,795.
According to the latest weekly report from BRS (Barry Rogliano Salles), there was a general slide in rates this week, with the Panamax and Supramax markets affected by a slowdown in South American grain exports. Meanwhile the previous week’s re-appearance of Japan in the market did not have much of an impact this week and the Cape market came off slightly. In the iron ore market, China’s efforts to control more of the ore trade are starting to take effect with the China Mining Association claiming the country will manage 200m tons in overseas ore by 2014, up from 110m tons this year. The Association also predicted domestic iron ore production will grow between 6% and 8% this year, up from 1.07bn tons of iron ore in 2010 (itself a near 22% increase on 2009). Confirming the trend to extend its reach overseas, this week Wuhan Steel confirmed it would begin mining ore at its Liberian Bong mine in 2012. Initial capacity will launch at 1m tons/year, though the company has plans to expand it to 10m tons/year.
“Activity levels were relatively high in the Cape market this week, but again the sheer number of vessels available for hire kept rates at the same level. We have now seen 80 Capesizes of 13.5m dwt (ships >83,000 dwt) delivered in the first three months of 2011, compared to 60 vessels of 10.9m dwt in the equivalent period in 2010. Friday-to-Friday the BCI fell 13 points to 1792, while the four time charter average finished the week at US$10,554. In the period market, levels also remained stable, with an 180,000 tonner fixed at US$16,000 per day for 11-13 months trading, delivery ex yard in China” said the report from the Paris-based shipbroker.
As for the Panamax markets, the Far East area was quiet and the few spot coal cargoes out of Indo and Australia were mainly fixed under contract. In the Indian Ocean, iron ore exports slowed down too and Panamax tonnage was fixed from WCI to China at US$15 pmt, down from US$16 pmt a week ago. This weaker market pushed many ships to ballast into the ECSA basin, pushing down this market and the TA round lost more than US$1,000 to close at around US$15,000 per day. We noted however that some quick TA rounds were fixed at well below those levels. The short period market logically eased too by more than US$1,000, and BPI index vessels are now getting between US$15,000 and US$16,000/day.
In terms of S&P activity, the week ended with 27 sales reported in the secondhand and demolition market posting a 42.5% negative w-o-w change with buying sentiment being centered again both on bulkcarriers and tankers said a separate report from Golden Destiny. The highest activity has been recorded in the secondhand market, while the newbuilding market these last two weeks remains on low levels.
“In the secondhand market, 20 vessels reported to have changed hands this week equalling a total amount of money invested in the region of US$ 280,95 million, however six of the reported deals were at undisclosed prices. In terms of reported number of transactions, the S&P activity has been marked with a 20% negative w-o-w change, while is down by 37.5% comparable with previous year’s weekly S&P activity when 32 vessels induced buyers’ interest with bulk carriers again grasping 31.25% share of the total volume of S&P activity. In terms of invested capital, the tanker sector continues to appears to be the most overweight representing almost 80% of the total invested capital this week.
In the demolition market, it was a quiet week with just 7 vessels reported to have been headed to the scrap yards of total deadweight 261,467 tons. In terms of reported number of transactions, the Demolition activity has been marked with a 68 % negative w-o-w change, while in terms of deadweight the weekly negative change was around 40%. In terms of scrap rates, the highest scrap rate has been achieved this week by India for a general cargo vessel that seems to obtained $ 483/ldt, with Bangladesh being again out of the market since the situation still remains uncertain.
The Greek presence this week was noticeable both in the secondhand and the newbuilding sector. In the secondhand market 2 transactions appeared in the frontline, one in the Capesize sector and one in the VLCC sector, both from well-known players of the industry, while in the newbuilding sector the investments were centred in the bulkcarrier, gas tanker and once again container sector. The total invested capital remains unknown since no prices have been
revealed for the majority of the transactions” concluded Golden Destiny’s report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
Friday, 01 April 11
SUPRAS EX RICHARDS BAY COAL TERMINAL TO INDIA HOVERING AT $ 25 - 27.00 PMT - FEARNBULK
Handy
Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm p ...
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- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
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