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Friday, 22 April 11
DRY BULK MARKET KEEPS FALLING, NOW AT TWO-MONTH LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market seems unable at the moment to recover from the weight of newbuilding deliveries, resulting in too many ships competing for fewer cargoes. The industry’s benchmark, the Baltic Dry Index (BDI) fell to 1,254 points prior to Easter holidays, down by 0.63%, now standing at new lows. The Capesize market was lull remaining unchanged, with the biggest losses occurred in the Panamax segment, which retreated by 2.69%.
According to a weekly report from Shiptrade Services, “the Capesize market saw some good levels of fixing as demand grew this week in the Pacific for voyages from W. Australia to the Far East. As a result we saw some gains on Pacific RV which appear marginal as a result of the continuous overcapacity which is affecting the market. The Atlantic remains significantly subdued with the tonnage list ever increasing as ballasting vessels to the Atlantic have put more pressure on the market and have increased the congestion in South American ports.
The Panamax market showed some promise in the beginning of the week with a few fresh cargoes entering the market. However the effect was that due to the ample abundance of tonnage these cargoes were covered quickly and tonnage in the Pacific started to pile up further. Moreover in view of the upcoming Easter holiday it is unlikely that the situation will improve. Owners in the Atlantic have tried their best to resist the pressure but with such high levels of competition rates have unavoidably softened.
The Supramax market has faced another sliding week. In the Atlantic owners have tried to hold back however this does not seem to be sustainable with very limited business in the region. Rates in the Pacific are showing a sliding direction since demand has been thin and the region is still heavily constrained by the excess supply of vessels. There was no hope for fixtures out of India either this week, with an obvious drop in iron ore cargoes coupled with the effects of higher taxation on exports.
The Handysize market is the only one which managed to keep fairly stable this week. Rates across the board have even been showing slight gains. That is not to say however that there is a definite positive market direction. In ECSA we saw a positive note with a few more enquiries appearing for fronthaul trips” said the shipbroker’s report.
It went on to say that according to data from the Chinese Iron & Steel Association (CISA), the national daily crude steel production during March remained at positive levels, up by 4.6 %. Preliminary data from Chinese customs show an increase of Iron Ore imports by 22% in February. Australia on the other hand, according to the North Queensland Port Authority, shows a recovery in March shipments from Hay Point and Dalrymple Bay despite the latest severe flooding. The US Department of Commerce released its latest data showing a 52% year on year increase for US seaborne coal imports, which is the highest level seen since March 1992. Furthermore it seems that Japan became the largest single destination of US coal exports in February with 1.3 Million tons being imported against the 2.9 mill tons imported in total last year. In general the exports from US to the total Asia-Pacific region rose to 54% during February.
The latest world economic outlook from the IMF shows unchanged forecasts of 4.4 % for the world economic growth, although it continues to expect 9,6% economic expansion for China and it has lowered its estimates about India to 8.2% and the Middle east and North Africa to 4,1%. US Department of Agriculture has increased its estimates and now expects that world grain trade will total 269.57 million tons, increased by approximately 1.2 million tons than what was originally expected, this increase is occurred primarily due to raised expectations for wheat exports.
Regarding the S&P Market it seems that Tanker deals continue developing lately in spite of the low rates. M/T “Rainbow River“(107.160 dwt, Built Koyo Japan 1999) was reported sold to Greek buyers for USD 24 mill, following the one month earlier sale of the two years older M/T “Kythira” (107.176 dwt, Built Koyo 1997) to Indian Buyers for USD 21 mill.On the dry side we have seen a few Panamaxes changing hands lately. The M/V “Rondeau” (77.031 dwt, Built Namura Japan 2006, 9 HO / 9 HA) sold for USD 33 mill to Japanese Buyers, following the previous months’ sale of the one year older M/V “Mineral star” (76.285 dwt, Built Tsuneishi Japan 2005) for USD 32 mill. The M/V “Grand Sky” (75.752 dwt, Built Sanoyas Japan 1998) for USD 20 Mill via auctionand the sale of the 3 years older M/V “New Arising” (71.695 dwt, Built Hitachi Japan 1995) for USD 18.9 mill to Greek Buyers are some of the Panamaxes reported to have been sold during the last week.
Regarding inquiries the interest from the markets in the Far East is showing an increase of approximately 20%. The Greek market has shown a slight decrease in purchase interest by about 9%, while the European and other markets remain stable.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
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- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
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