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Thursday, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
 With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels witnessed last month. The Baltic Dry Index edged up by nine points to an average 1,352 from 1,343 in April. Only the Panamax segment recorded increases in rates, while Capesize and sub-Panamax segments witnessed further declines in rates. However, the decline in bunker prices, albeit a small one, gave owners some relief as decline in voyage cost provided a support to the earnings.
Even as the freight market failed to bring any cheer in the owners’ camp, newordering activity remained high (albeit lower from last month) as owners relentlessly tried to capitalise on falling asset prices. A total of 74 bulkers were contracted in May, as compared to 72 in April. In dwt terms, however, a total of 5.8 million dwt of orders were placed in May, compared with 6.5 million dwt in April. With the Capesize turning out to be the least profitable segment, the pace of neworders for Capesizes slowed, resulting in the overall reduction in total tonnage ordered over the month.
Despite the freight markets giving unpromising returns, owners remained undaunted and continued to acquire prompt tonnage. Secondhand sales during the month stayed at April level of 2.2 million dwt. In the demolition market, a situation where the market is ailing from a glut of ships, increases in demolitions might take the market closer to the equilibrium. A total of 2.4 million dwt of tonnage was sold for demolition – a level last seen in January 2009. An increase in demolition prices provided further push to owners who were contemplating demolishing their tonnage. Demolition prices increased on an average by 5-6%.
Our view Although demand is improving with China increasing its coal imports amid higher domestic prices and grain trade generating longer tonne-miles with South American countries continuing to bridge the gap before the return of Russia and Ukraine in the grain market, the supply side anomalies pose grave danger to the recovery in the dry bulk freight market.
Source: Drewry / Hellenic Shipping
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Thursday, 16 June 11
BOOSTING THE USE OF LOW CARBON ENERGY FOR A BETTER WORLD
Bali, Indonesia host of world renewable energy congress – Indonesia, international conference & exhibition on renewable energy and energy ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
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- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- London Commodity Brokers - England
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
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