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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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Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
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. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
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 ...
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- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
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