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Thursday, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI) was down to 1,328 yesterday, retreating by 0.15% on the day. Once again it was the bigger ships which suffered. The Capesize segment fell by 0.96% to 1,886 points, while the Panamax market was down by 0.32% to 1,536 points. Among the silver linings of the market was the Handysize/Handymax market with a gain of 0.43% to 695 points.
The first half of the year ended with the average value of the BDI standing at 1,372 points, down by 57 % from the first half of 2010 when the BDI was at 3,166 points and capesizes were earning $11,507/day more than today’s levels. “However, shipping investments have shown a 7% increase from the first quarter of the year with bulk carriers being protagonists in the secondhand market and containers dominating in the newbuilding scene” said Golden Destiny in a relative analysis.
It went on to mention that although bulk carriers have lost their strength in the secondhand and newbuilding market they are still holding the lion share in both markets, 35% of the total volume of transactions. “The lost of confidence is mainly attributable to the weak environment of the dry market as the BDI still hovers below the psychological barrier of 1,000 points mark and Chinese commodities’ demand appears not enough to absorb the ongoing flow of newbuilding deliveries. But, when the demand side will be rebalanced with the supply? The recovery of the market remains pending from the start of the year. During June, the BDI managed to gain a 6% month-on-month rise, but it seems that the high levels of 2010 are not yet feasible. Capesize time charter equivalent earnings have shown a 39.5% growth from May levels, but China’s high iron ore port stockpiles, barriers in electricity consumption and persistent high levels of commodities’ inflation cannot still narrow the gab with the supply side. According to data from the General Administration of Customs, China’s imports of iron ore fell to 51.09 million tones in June, compared with 53.30 million tones in May. The agency said that imports rose 19.3% year-on-year last month, versus the 24.8% rate expected by the economists. The June result was below the 28.4% rate in May and the lowest annual growth rate since the -6.4% posted in October 2009, which was the last of 12 consecutive months year-on-year declines that started in November 2008 after the global financial crisis” said Golden Destiny.
In a separate weekly report from shipbroker Fearnley’s, it was mentioned that the lack of direction in the Capesize market has continued this week, but now showing signs of weakening. “The West Australia market was struggling to decide which side of usd 8.00 the market should be, and fixture have been concluded on both sides, though the most recent reported is at a low usd 7. 75. Also the Front haul market was stable, just over the usd 20.00 mark, but has now dropped below and is not closer to usd 19.50pmt. The Atlantic again was living in its own world, but saw a significant down turn towards the end of the week, but has now stabilized at a healthier usd 13,000 level p/d. This market may not last as we suspect re-let charterers have cleared their tables pending the holiday season, but it should be noted that the tonnage supply is still tight. On the period front some more short period deals have been done in the usd 11,500-12,000 level which is only slightly down from the last rally. One can attribute this to fewer vessels idle (not trading) due to the low market level” said the shipbroker.
Referring to the Panamax market Fearnley’s said “it faced a slow start to the week, with limited activity in all basins. Atlantic rounds have stabilized around mid teens, however the north continent is somewhat tighter on tonnage, so this area might improve somewhat in the next few days. Ballasters for the Pacific are keeping the EC South American market down, in spite of quite a few cargoes out of that area. A few fresh cargoes emerged as well out of Indonesia and Aussie, but not enough to support any rise in rates for the time being. However the fall in rates seems to flatten out. With a tic more positive tone in both basins the last day, the end of the week may bring a steadier market, but this remains to be seen”.
As for the Handy market, “Atlantic softening across all segments with little fresh enquiry ex Bsea/Cont/USG and ECSA. Trips to Feast remain healthy. More cargoes expected for 1st half of August but this remains to be seen. Overall sentiment remains soft in Pacific, however few enquiries keeping market busy. For Indo-India, supras in South China are getting close to 12k. 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 cargoes seen from RBCT. As a result, RBCT biz fixed on ECI tonnage around 11k. Red Sea, ferts on handymax/ supras are fixed at very mid 20´s pmt on voy bss to WC India. Period deals done at 13k for large supras” concludedd Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power ...
Tuesday, 26 July 11
UT'S SALES COULD REACH TO 8000 UNITS BY THE END OF 2011
COALspot.com - Sales of Komatsu heavy equipment in the domestic market in the first half of 2011 rose 59 percent to 4333 units compared to the same ...
Monday, 25 July 11
INDONESIA STATE ELECTRICITY COMPANY HAS BURNED 19 MMT OF COAL FOR FIRST HALF OF 2011
COALspot.com - Indonesia's State Electricity Company and other IPPs have burned 19 million tons of coal for first half of this year said,Pamudji Nu ...
Monday, 25 July 11
AKR CORPORINDO TO PRODUCE 0.3 MMT OF COAL BY DECEMBER
COALspot.com - PT AKR Corporindo (AKRA) began producing coal from its mine in Muara Teweh, Central Kalimantan. The company is targeting to pro ...
Sunday, 24 July 11
AN INDIAN PORT SETS A WORLD RECORD FOR CONVENTIONAL COAL DISCHARGE
COALspot.com - Krishnapatnam Port has set a World record for discharging 106,171 tons of steam coal in just 24 hrs using the conventional unloading sy ...
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- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- The University of Queensland
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
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