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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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- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Marubeni Corporation - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- PTC India Limited - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Australian Coal Association
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