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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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Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
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- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- White Energy Company Limited
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- The University of Queensland
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Bhatia International Limited - India
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