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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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Wednesday, 20 April 11
TNPL SECURED 160K MT OF COAL WITH CALORIFIC VALUE 6000 GAD AT US$ 93.44 PMT
COALspot.com - Delhi based Knowledge Infrastructure Systems Pvt. Ltd once again offered the lowest price of US$ 93.44 per metric ton for calorific v ...
Wednesday, 20 April 11
TSI LAUNCHES GEO-COAL UPGRADING TECHNOLOGY
Simple yet effective process boosts calorific value of low rank coal to provide lower cost energy across the world.
Press Release - Total Sinergy ...
Wednesday, 20 April 11
ADARO TO PAY OUT RP 970B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, the annual shareholders meeting of coal producer PT Adaro Energy on Wednesday agreed on the disbursement of Rp 970.7 ...
Wednesday, 20 April 11
INDIA IMPORTS MORE COAL FROM INDONESIA
COALspot.com - Indonesian coal exports jumped 23.31 percent during March 2011. The world’s largest coal exporter shipped 27, ...
Tuesday, 19 April 11
LONDON COMMODITY BROKERS OPENS JOHANNESBURG OFFICE
COALspot.com - London Commodity Brokers (LCB), a broking house specialising in bulk physical and Over-The-Counter commodities and options (coal ...
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- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Edison Trading Spa - Italy
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
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