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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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Thursday, 19 May 11
INDONESIAN COAL EXPORTS DROP 7.98 PERCENT IN APRIL
COALspot.com - Indonesian coal exports dropped to 2.168 million tons in April, and up 7.13 percent on the year and 7.98 percent below March, a ...
Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
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- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- The University of Queensland
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Planning Commission, India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
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