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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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Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
Friday, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
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- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
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