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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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Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
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% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
Wednesday, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
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- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
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