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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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Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
Wednesday, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
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- Bangladesh Power Developement Board
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Australian Coal Association
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
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