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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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Wednesday, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
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- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- VISA Power Limited - India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- The University of Queensland
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
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