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Sunday, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session up by 1.05% to 1,443 points. The Capesize Index has inched higher, gaining 1.63% on Wednesday to reach 2,116 points, managing to stay clear ahead of the Panamax sector. Panamaxes were also higher by 2.01% with the relative Panamax Index now standing at 1,626 points. Up until a couple of weeks ago, Panamaxes were ahead of their larger Capesize counterparts, in a paradox of the latest circumstances prevailing in the dry bulk market for months.
In a latest update on the Capesize resurgence, US-based analyst Commodore Research & Consultancy said that approximately 108 dry bulk vessels were delivered in May, a significant increase from 71 vessels delivered in April. May saw the delivery of 29 handysize vessels, 36 handymax vessels, 22 panamax vessels, and 21 capesize vessels. In comparison, April saw the delivery of 14 handysize vessels, 20 handymax vessels, 20 panamax vessels, and 31 capesize vessels.
“Approximately 35 vessels were demolished in May, a small increase from 27 vessels demolished in April. May saw the demolition of 11 handysize vessels, 4 handymax vessels, 8 panamax vessels, and 12 capesize vessels. In comparison, April saw the demolition of 11 handysize vessels, 5 handymax vessels, 6 panamax vessels, and 5 capesize vessels.
The capesize market fared the best in May, registering a net addition of only 9 vessels (in comparison, April saw a net addition of 26 Capes). This is partially why Cape rates have been able to find support since the second half of May. The 12 Capes that were scrapped in May were the largest amount of Capes scrapped in a single month this year. In comparison, January to April saw an average of 6 Capes scrapped per month. May’s small net addition, combined with an increase in iron ore and coal demand seen throughout much of June, has helped average Cape rates rise from approximately $5,500/day at the middle of May to almost $14,000/day” said Commodore in its report.
In its latest weekly analysis of the dry bulk market, Fearnley’s said, referring to the Capesize segment, that “as most players were expecting a summer quiet market, the opposite is happening. West Australia/China route is stronger, in spite of only one of the big three appears to be active. Although little information in the market appears about last done levels, it seems mid 8s is the going level for this route. For Tubarao/Qingdao we see more activity as well, and bid/offer is presently usd 20,50/21.00 bss Tub/Qingdao. Short period is steady, with expectations for some further improvement, bid/offers for short period usd 12,000/12,500 dly” said the shipbroker.
In the Panamax segment, “despite recent signs of life in the Cape market, and spot levels on Panamax turning positive mid week, the sentiment in the Panamax market suffers from an underlying weak tone. Charterers are holding back and activity overall is limited. In the Atlantic prompt positions has been cleared out and rates are slowly climbing in mid teens. Grain orders still appear from ECSA, and runs to the Far East holding at 25 + 500 for ballasters or 22-23k bss Med positions. Owners are still suffering in the eastern hemisphere by lack of fresh requirements from both Aussie and NOPAC. Low volumes on coal with just a few Indonesian rounds still there, and short term expectations for coal is not encouraging. Pacific levels not at five figures yet. The FFA market is hovering around 12-13k for the next 12-18 months, maintaining similar levels for short/medium period where activity also is limited” said Fearnley’s.
Finally, on the Handy sector, it’s been “a quiet market with low activity for Supramax in the Atlantic this week, in particular for Cont/Med positions. NCSA-USG spot/prompt loaders also struggling to find employment. Ballasters from Indian Ocean adding pressure to the South Atlantic resulting in an overall negative trend.
The Pacific market is quiet. For Indo-India, Supras in south China are getting close to 11k. Nickel-ore rounds are getting firm rates in low-mid teens. Very quiet on iron ore front due to monsoons as WCI-China rates slided to 10k and from ECI around 9k.
Few Indian tonnage seen ballasting to Indonesia and RBCT. As a result, RBCT biz fixed on APS at around 20k. Red Sea, ferts on handymax/Supras are fixed at very mid 20´s pmt on voy bss to WC India. Period deals done at 14-15k for large Supras” concluded Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
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- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Australian Coal Association
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- The University of Queensland
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- White Energy Company Limited
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
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