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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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Saturday, 26 March 11
ADARO AIMS TO DOUBLE COAL PRODUCTION -THE JAKARTA POST
The Jakarta Post reported that, coal producer PT Adaro Indonesia is planning to soon boost its production capacity to 80 million tons annually, almo ...
Friday, 25 March 11
KNOWLEDGE INFRASTRUCTURE TO BAG 160,000 MT COAL SUPPLY ORDER FROM TNPL
COALspot.com - Delhi based Knowledge infrastructure Systems Pvt. Ltd offered lowest price of US$ 97.10 per metric ton for calorific value of 6000 GA ...
Friday, 25 March 11
THE CAPESIZE MARKET CONTINUED TO FALL - FEARNBULK
Handy
The Atlantic market remains stable with more activity from the Black Sea to Feast paying in the mid 20´s on supras.
The USG remain ...
Friday, 25 March 11
BORNEO ENERGI FY10 NET INCOME SOARS - INSIDER STORIES
Coking coal producer PT Borneo Lumbung Energi Tbk (BORN) booked a skyrocket net income by 499.72% from net loss position in 2009, as quoted by Insid ...
Thursday, 24 March 11
INDIA'S CHETTINAD INTERNATIONAL COAL TERMINAL'S PERMISSIBLE DRAFT HAS INCREASED TO 13.5 M
COALspot.com - Chettinad International Coal Terminal in Ennore port has the berth with draft 13.5 Meters now, according to E-Mail statement received ...
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- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
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