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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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Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Tuesday, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
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- Australian Coal Association
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Planning Commission, India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
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