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Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of decreases, as it’s obvious that the outstanding oversupply of dry bulk carriers is so massive, that demand simply can’t and won’t keep up. Yesterday, the BDI fell for the second consecutive day, ending at 1,320 points, down by 1.05%, led by falls in all markets, but most evidently by the Panamax segment’s lack of demand. This has come as a sharp contrast to what was the case during the past few days, when the Panamax market was the one leading the freight rates’ rise. Yesterday, Panamaxes lost 2.43% on average, while the loss in the capesize segment was less, down by 0.73%.
According to a relative analysis, provided yesterday by ship owners DS Norden, spot rates in the dry cargo market has been decreasing throughout the first quarter. The BDI fell by 14% at the end of the quarter, compared to where it was at the end of 2010. Similarly, the average for the BDI in the first quarter was 55% below the average for the first quarter of 2010. In general, the Capesize vessels were hit the hardest, whereas the other vessel types performed relatively better. However, the pressure on the smaller vessel types appears to be increasing following the end of the quarter. The drop in rates during the period was caused by a combination of continued addition of newbuildings, declining coal exports from Queensland, Australia, due to flooding, and finally declining imports of raw material to Japan after the earthquake in the north-eastern part of the country.
“As expected, the addition of newbuildings to the dry cargo fleet continued at a high level. It is estimated that a total of 22 million dwt. was delivered, corresponding to a growth rate of approximately 16% on an annual basis. The majority of the tonnage was delivered to the global Capesize fleet, which increased by more than 4%, whereas the Handysize fleet only increased by 1.5%. The growth was counterbalanced by a major increase in the scrapping volumes which grew by nearly 5 million dwt. – corresponding to approximately 4% of the fleet on an annual basis (source: R.S. Platou). If the fleet development from the first quarter continues, the supply growth rate will amount to approximately 13% net, which is still estimated to be too high to be absorbed by an otherwise great increase in demand” Norden said.
Commenting on the panamax market this week, Fearnley’s said that “the increase in activity and rates especially in the Atlantic from mid last week dropped somewhat as from beginning this week. T/a now largely steady and owners more reasonable and willing to repeat last done. More coal in Atlantic was the main reason for the positive upswing with rates pending between 15-16k. For ESCA the grain is still main driver with levels between 25,000 -26,500 + bb 550-600k. As more and more spot Capes offering in on Panamax stems, where this is possible, the result can influence negative on Panamax as well and predictions for coming weeks are more conservative. I the Far East rounds paying 14k and short period tic more”.
As for the Capesize segment, it said: “The week has been fairly quiet, with steady levels. Although freight levels slightly down, levels are flat due to lower bunker prices. Still a good number of ballasters and some vessels waiting outside Brazil, with lack of fronthaul cargoes for May dates. For West Australia to China, levels remain unchanged around usd 7.50 pmt, last done today usd 7.40 pmt by FMG. It seems people in general accepting the difficult and challenging state of the Cape market, and that the situation will remain for some time”.
Regarding the smaller ship types (Handy/Supramax) the market has been “stable/flat with positive undertone in the Atlantic meaning more enquiry hitting the market today. Lack of prompt vessels. Trips to the Far East around usd 22-25k per day for Supras nevertheless a lot of actors are still assessing the market´s direction. The Pacific market remains quiet with holiday in Korea and monsoon setting soon in India closing WCI iron ore activity. For Indo-India, Supras in North China are getting close to 13.5k. WCI-China rates slided to 15k and from ECI around 13k but few ships seen ballasting to Indonesia as not much cargoes ex-ECI. Red Sea, ferts on Handymax/Supras are fixed at very mid 20´s pmt on voyage basis to WC India. Large Supras for RBCT/India round now asking 15k. Not too much activity on short period as market bit volatile and speculative and hear index type vessels fixed at mid-teens” concluded the shipbroker in its weekly report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 03 June 11
DRY BULK MARKETS RESURGENCE APPEARS TO BE LOSING SOME STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s seems to be losing some steam, despite reports of growing Chinese demand for commodities, especially coal, on the back o ...
Thursday, 02 June 11
LARGE SUPRAS FOR RBCT/INDIA ROUND ARE NOW ASKING 14K - FEARNBULK
Handy
The Handy/Supra market has in general been flat and un-exciting this week. The Black Sea market is almost non existing while the US Gulf mar ...
Thursday, 02 June 11
DRY BULK SHIP OWNERS LOOKING INTO SHORTENED WEEK WITH ANXIETY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most markets in the western world closed yesterday, as a result of Memorial Day, dry bulk stakeholders weren’t able to build over the pos ...
Monday, 30 May 11
MIANG BESAR COAL TERMINAL ON TARGET
COALspot.com - MBCT, to be largest coal terminal in Asia to start construction in Indonesia’s east Kalimantan Island in July 2011 says Mr. Joh ...
Sunday, 29 May 11
THE FREIGHT MARKET CONTINUED TO GAIN MOMENTUM - VISTAAR
COALspot.com - The freight market continued to gain momentum and the BDI, Cape Index and Panamax was by up almost 10-12 pct and on all sectors, Vist ...
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- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- VISA Power Limited - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Australian Coal Association
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
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