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Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
 In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path. The industry’s benchmark, the Baltic Dry Index (BDI) fell by 1.15% on the day to end down to 1,291 points. The main losses were attributed to the panamax segment, with the relative index falloing by 2.62%. The Capesize market was also down by 1.27% on the day.
According to the latest dry bulk weekly report from shipbroker Barry Rogliano Salles, it was another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. The latter may see a drop in activity in the coming weeks due to the Mississippi floods which are reported to be affecting current barge traffic.
In the coal market, the newly active US coal export market warned future growth could be constrained by infrastructural limitations. The US coal industry logged exports of around 25m tonnes in the first quarter of 2011 but Xcoal Energy chief executive Ernie Thrasher said producers would be unable to export more with the current east coast terminal capacity. US coal exports have provided significant new tonne-miles for the dry bulk market as coal supplies have become tight, but it appears they will be capped at around 100m tonnes per year due to the current infrastructure.
Commenting on the Capesize market, it mentioned that “although the drift is not significant, the Capesize recorded another week-on-week decline this week. The four time charter average finished at US$6,002, a drop of US$775 from the previous Friday, with the largest declines logged Aus-China, and Braz-China not far behind. There was a flurry of activity by the Australian mining groups, but there was ample tonnage to meet the demand and rates did not improve. The bearish sentiment was also evident in the FFA market with the Q3 contract losing 12% w-o-w to finish last week at US$9,036 and Cal 12 10% w-o-w. Monday was another typical day with the BCI sliding 19 points, with no signs of a severe drop but none of a major improvement either” said the shipbroker.
On the panamax front: “the BPI slipped by US$400 week-on-week. The Atlantic remained stable thanks to a good balance between cargoes and ships; even spot vessels managed to fix at good levels at close to US$14,500/day on the TA round. Out of ECSA, the market eased throughout the week and the fronthaul lost US$1,000 to close at US$22,500/day. Indian exports eased too and the Panamax rate Goa-China was close to US$13 pmt, down US$2 pmt from the previous week.
The Nopac and Far East markets were quiet and by the end of the week the number of vessels had started to increase, pushing the NOPAC round closer to just US$12,000/day. Friday to Friday, the period market interest vanished and very few vessels were reported fixed – the market for a Tess 74 BPI type was in the low-mid US$14,000s/ day, a US$2,000 drop from a week ago” said the report.
As for the Supra and Handy markets, they “witnessed a steady flow of activity last week with barely 5 points difference between Monday and Friday for the Supras and just 1 point for the Handies. We saw a slight drop in the Supras in the Far East, which appeared to be linked to the drop in paper values. India –China voyages went for about US$14,500 even though some owners tried to resist and rated ships at US$16,500 for the same routes. Indo – India went for an average of about US$17,500/day.
We still saw strong numbers such as US$30,000 from the US Gulf to the Far East. The market anticipated an immediate impact from the floods in the Mississippi but this was not the case. Continent-Med trips went for about US$18,000 while ECSA-Cont went for US$28,000. The Med was nearly dormant for the Supras. Out of the Black Sea we started to see some Corn cargoes for the first time since May last year. The rates are still not the best as a few Handies were fixed at about US$6,000 for trips Black Sea-Cont and about US$9,000 Med-Cont. Handies went for an average of about US$20,000 for US Gulf–Cont voyages and about US$22,000 for Cont –Far East trips.
On the period front, we noticed many ships who were willing to go for short period but not many takers. Supras went for about US$14,000 for 4-6 months delivery east Med redel Atlantic and another at US$15,000 same 4-6 months redel Atlantic. A Handy went for US$13,000 for 1 year period redel worldwide” concluded BRS.
Source - Nikos Roussanoglou, Hellenic Shipping
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Sunday, 10 April 11
SOFT FREIGHT MARKET TREND LIKELY TO BE CONTINUED - VISTAAR SHIPPING
COALspot.com - The freight market continued to soften further with the BDI breaking the 1,500 points and closing at 1376 points down by almost 10 pc ...
Thursday, 07 April 11
HANDY RATES SLIDING NOW - FEARNBULK
Handy
Slowly softening rates as more tonnage is accumulating in the Atlantic basin.The trans-Atlantic round is around $15k pd with trips to ...
Thursday, 07 April 11
DRY BULK MARKET PLUNGING EVEN FURTHER ON LOW CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the large ...
Thursday, 07 April 11
INDIKA BUYS MITRABAHTERA AT US$ 0.183
PT Indika Energy Tbk (INDY), integrated energy company, today has exercised an option agreement to acquire 51% shareholding in newly listed coal tug ...
Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
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- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Planning Commission, India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
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