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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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Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
Wednesday, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
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- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Parliament of New Zealand
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
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