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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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Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 p ...
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.ha ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
Tuesday, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
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- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- The University of Queensland
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Planning Commission, India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
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