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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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Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
Saturday, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
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- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
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