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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, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
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- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Planning Commission, India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
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