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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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Thursday, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
Wednesday, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Australian Coal Association
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- The University of Queensland
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
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