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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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Monday, 09 May 11
THAILAND COAL IMPORTS SURGE IN Q1 - ICAP SHIPPING
Thailand's coal imports leapt 20% in Q1 and the country looks set to import its largest ever volume in 2011 as quoted by ICAP Shipping web site.
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Monday, 09 May 11
KOSPO SEEKING 65KT STEAMING COAL
COALspot.com - Korea Southern Power Co (KOSPO) issues tender for 65000 Mt of Steaming Coal Supply with a minimum CV of 4,500 kcal/kg on NAR basis. D ...
Monday, 09 May 11
INDONESIA HBA FALL BELOW $118
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the May 2011 Indonesian Coal Reference Price for thermal coal at US$ 11 ...
Monday, 09 May 11
DIAN SWASTATIKA Q1 PROFIT SOARS 511 PERCENT - INSIDER STORIES
PT Dian Swastatika Sentosa Tbk (DSSA), parent of coal miner PT Golden Energy Mines, reported a 511.73% jump in net profit for the first quarter of t ...
Saturday, 07 May 11
BERAU INKS DEALS WITH CHINESE FIRMS AS COAL WEATHERS COMMODITIES STORM - THE JAKARTA GLOBE
The Jakarta Globe reported that, Berau Coal, one of the country’s largest coal miners, has signed sales contracts with two Chinese companies a ...
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- ASAPP Information Group - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Planning Commission, India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
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