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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, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
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- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- The University of Queensland
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
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