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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, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
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- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Planning Commission, India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
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