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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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Thursday, 24 March 11
DRY BULK MARKET RISES, CAPESIZES GAIN BUT REMAIN LOW EARNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market posted modest gains on Wednesday, with the Baltic Dry Index rising to 1,565 points, up by 1.43 percent on the day, led by gains ...
Wednesday, 23 March 11
INDIAS TNPL RECEIVED 1.120 MMTS OF COAL AGAINST ITS 160K MT INQUIRY
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its inquiry today.
Seven Indian coal traders have submitted price bid to sup ...
Tuesday, 22 March 11
MONNET ISPAT & ENERGY LIMITED ACQUIRES INDONESIAN COAL COMPANY THROUGH ITS SUBSIDIARY MONNET GLOBAL LIMITED
Monnet Global Limited (MGL) acquires PT Sarwa Sembada Karya Bumi, Sumatra & on part exploration the reserves of 65 million tonne on Thermal Coal ...
Tuesday, 22 March 11
RI COAL EXPORTS TO JAPAN MAY BE DIVERTED TO OTHER COUNTRIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s coal exports to Japan will likely be diverted to other countries for several months after the rece ...
Tuesday, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
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- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- The University of Queensland
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
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