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