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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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Saturday, 23 July 11
FAR EAST /SE ASIA ROUTE GAINED US$ 3000 HIGHER THAN LAST WEEK - VISTAAR
COALspot.com - The BDI further softened to by 2.22 pct and closed at 1323 points. The Cape and Panamax index also softened and closed at 1841 points ...
Saturday, 23 July 11
PANAMAX MARKET FACED A LIMITED ACTIVITY IN ALL BASINS
Handy
Atlantic softening across all segments with little fresh enquiry ex Bsea/Cont/USG and ECSA. Trips to Far east remain healthy. More cargoes ex ...
Friday, 22 July 11
MARUBENI ACQUIRING 42.86% SHARE OF YTL JAWA POWER HOLDINGS
COALspot.com - Japan’s Marubeni Corporation acquisition 42.86% stake in YTL Jawa Power Holdings BV, which owns a 35% equity interest in Indone ...
Thursday, 21 July 11
INDIA IMPORTS 36.033 MILLION TONS OF INDONESIAN COAL TILL JUNE
COALspot.com - Indonesia shipped 28.27 Million tons of coal in June 2011, a 2.3 percent lesser than May export of about 28.962 million tons, I ...
Thursday, 21 July 11
COAL PRICES ARE AT US$ 120 A TONNE
COALspot.com - Indonesian coal production in 2011 is expected to reach 360 million tons or 5.8 percent higher than government's forecasts. The incr ...
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- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- VISA Power Limited - India
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- MS Steel International - UAE
- Australian Coal Association
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
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