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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, 19 April 11
TNPL TO CONDUCT E-AUCTION TO SECURE 160,000 MT OF COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL) a state utility of Tamil Nadu, India to conduct reverse auction on 20 April 2011, betw ...
Tuesday, 19 April 11
ADARO TO ALLOT US$100 MIO FOR COKING COAL - INSIDER STORIES
One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) plans to spend US$100 million in coking coal project dubbed IndoMet Coal, a joint ...
Tuesday, 19 April 11
KPCL TO OPEN PRICE BID ON 23 APRIL 2011 TO FINALIZE ITS ONE MILLION MT COAL SUPPLIER
COALspot.com - Karnataka Power Corporation (KPCL) a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 ...
Monday, 18 April 11
INDONESIA HAS SET THE APRIL 2011 COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.02 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the April 2011 Indonesian Coal Reference Price for thermal coal at ...
Sunday, 17 April 11
THE FREIGHT MARKET APPEARS WILL CONTINUE TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - "The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 p ...
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- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
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- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- The University of Queensland
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
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