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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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Friday, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
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- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- PTC India Limited - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Minerals Council of Australia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
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