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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, 26 April 11
NTPC CALLS TENDER FOR 4 MLN TON OF NON-COKING COAL
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, is the largest thermal power gener ...
Monday, 25 April 11
THE FUTURES FOR THREE YEARS WAS AT AROUND PANAMAX/US$ 14,000 PER DAY & SUPRAMAX/US$ 14,000 PER DAY - VISTAAR
COALspot.com - The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 points. ...
Saturday, 23 April 11
GUPTA COAL TO BAG ONE MILLION TONS OF COAL SUPPLY ORDER FROM KPCL AT AROUND US$ 127.53 PMT
COALspot.com - Karnataka Power Corporation (KPCL), a state utility of Karnataka, India has secured its one million tons of thermal coal with c ...
Saturday, 23 April 11
STRAITS ASIA SETS 11.5 MIO TONS OUTPUT - INSIDER STORIES
Insider Stories reported that, Singapore-listed Straits Asia Resources Limited plans to jack up its coal output target of 8.5% to 11.5 million tons ...
Friday, 22 April 11
DRY BULK MARKET KEEPS FALLING, NOW AT TWO-MONTH LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems unable at the moment to recover from the weight of newbuilding deliveries, resulting in too many ships competing for fewer ...
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- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Australian Coal Association
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
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