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Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% to 1,446 points. Capesizes and Panamaxes have been the stars so far, with the Capesize market gaining 4.08% and the Panamax one returning to rising levels by an equally impressive 4.39%. Of course, one should take into account that traditionally this time of the year, the dry bulk market experiences its highest seasonal demand, which could help justify this week’s rise. But, on the other hand, oversupply issues haven’t just “magically” gone away and will keep on pressing the market and causing high rate volatility.
Yesterday, brokers and analysts alike were speculating that behind this week’s rise, is the potential decommissioning of some vessels.
“No owner’s going to continue doing business at $4,000 a day or $6,000, below operating costs,” said Hendrik Leusink, division executive for capesize and panama vessels at Island View Shipping SA, South Africa’s biggest commodities shipping line.
Quoted by Bloomberg he mentioned that “people will put ships into temporary lay-up or idle ships.” Operating costs for the vessels are between $7,500 and $8,000 a day, according to estimates from London-based Simpson Spence & Young, the world’s second-biggest shipbroker. Capesizes were below that level from April 11 to May 19.
In its latest weekly report, Fearnley’s mentioned that finally there were some good news for Capesize ship owners, even though rates in general are at a historic low and fundamentals have changed very little over the week. “Driven almost entirely by increased transatlantic coal trades and a steady volume on the Brazil/China iron ore run, average spot levels are up more than 50% to come in at close to USD 9k. Pacific is slow and eventless in comparison, though, with resultant levels for the WAust/China ore run only marginally up at USD 7.35 pmt which is still below opex. Expectations are there for this to last a little longer, thus more period fixing is expected - last done is 178kdwt/built 1998 done for 10-14 months at USD 10700/day basis delivery Qingdao mid June” said the report.
In the Panamax market, “after a slow start to the week, we saw more cargoes in the market on Tuesday with both coal from US and grains from ECSA. Especially the Pacific basin took a turn on Tuesday evening with chrts chasing prompt ships which were lacking. NoPac rounds were fixed at around 14k and still climbing, while the Atlantic rounds were fetching around USD 15k. Fronthauls hovering around USD 250k. It has been some short period activity this week with rates hovering around 13/14k. It was also rumored a kmax being fixed and failed for 3 years at a tick more than USD 14k” mentioned the shipbroker.
Finally, for the smaller ship types, “rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnage on ppt /beg of June positions. US Gulf to the Far East is slowly but surely firming further and more activity seen on transatlantic round voyage. ECSA is balanced with very little movement on rates. Outlook: stable. The Pacific market remains soft and owners unwilling to come in India due to lack of outbound cargoes. For Indo-India, Supras in North China are getting close to 12k. Nickel-ore rounds are getting firm rates in mid-high teens from Indonesia.
WCI-China rates slided to 15k and from ECI around 12k. 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 are now asking 15k. Short period deals done at mid-teens for large Supras” concluded Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 20 June 11
KPCL SETS ALL INDIA & POSSIBLY A WORLD RECORD FOR COAL DISCHARGING
COALspot.com - Krishnapatnam Port has set an all India record for discharging 95,528 tons of steam coal in just 24 hrs using the conventional unload ...
Monday, 20 June 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2011 IS ON THE WAY
Press Release - Since the beginning of 2011, international commodity price has been in a high level, resulting in “TENSION” of energy co ...
Sunday, 19 June 11
S6 AND S7 ROUTES LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market seemed to be stabilizing and the BDI and Cape index was up marginally and closed at 1,423 points and 1,824 points ...
Sunday, 19 June 11
BUMI 1Q NET PROFIT INCREASES 16.5 PERCENT
PT Bumi Resources Tbk (BUMI), Indonesia's largest coal exporter that is 25% owned by London-listed Vallar Plc, reported a16.49% increase in net pro ...
Friday, 17 June 11
DRY BULK BREATHES SIGH OF RELEAF ON RENEWED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has caught a sign of relief from the middle of the week onwards, as the BDI (Baltic Dry Index) increased once again yesterday, t ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- PTC India Limited - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
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