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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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Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
Tuesday, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
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- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Economic Council, Georgia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- White Energy Company Limited
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
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