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