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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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Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
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- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
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