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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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Wednesday, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
Monday, 23 May 11
BRMS IS TO START PRODUCTION FROM DAIRI PRIMA MINERALS
COALspot.com - The Presidential Decree No. 28 Year 2011 that allows conditional underground mining in the protected forest areas was issued on 19th ...
Sunday, 22 May 11
INDONESIA - INDIA IS LIKELY TO BE STEADY NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market remained soft beginning of the week, however second half of the week was firm with BDI up by 3.29 pct and closed a ...
Saturday, 21 May 11
OWNERS PREFER TO DO INDO COAL OR NICKEL ORE TO CHINA RATHER THAN GOING TO INDIA - FEARNBULK
Handy
The Atlantic is marked by volatility and very positional, nevertheless USG,NCSA, Cont remain strong thanks to the petcoke, grains and scrap ...
Friday, 20 May 11
GOVT TOLD TO LIMIT COAL, GAS EXPORTS - THE JAKARTA POST
The Jakarta Post, a leading news paper in Indonesia, reported that, Amid soaring global oil prices, the government should limit exports of coal and ...
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- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
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