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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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Tuesday, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
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- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
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