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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, 10 April 11
SOFT FREIGHT MARKET TREND LIKELY TO BE CONTINUED - VISTAAR SHIPPING
COALspot.com - The freight market continued to soften further with the BDI breaking the 1,500 points and closing at 1376 points down by almost 10 pc ...
Thursday, 07 April 11
HANDY RATES SLIDING NOW - FEARNBULK
Handy
Slowly softening rates as more tonnage is accumulating in the Atlantic basin.The trans-Atlantic round is around $15k pd with trips to ...
Thursday, 07 April 11
DRY BULK MARKET PLUNGING EVEN FURTHER ON LOW CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the large ...
Thursday, 07 April 11
INDIKA BUYS MITRABAHTERA AT US$ 0.183
PT Indika Energy Tbk (INDY), integrated energy company, today has exercised an option agreement to acquire 51% shareholding in newly listed coal tug ...
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 ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- The University of Queensland
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
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