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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, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
Wednesday, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
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- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Planning Commission, India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
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