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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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Tuesday, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
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- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- White Energy Company Limited
- London Commodity Brokers - England
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
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