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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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- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- The Treasury - Australian Government
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
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