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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, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
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- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Planning Commission, India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- ASAPP Information Group - India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
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