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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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- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
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