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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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Sunday, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session u ...
Sunday, 10 July 11
INDONESIAN BAYAN RESOURCES TO SUPPLY 100 MILLION TONS OF COAL TO INDIAN UNIVERSAL SUCCESS ENTERPRISES LIMITED
Coal miner PT Bayan Resources Tbk (BYAN), that is owned by Dato' Low Tuck Kwong, has entered into a conditional sales and purchase agreement to sup ...
Thursday, 07 July 11
BELOW 5100 COAL WILL BE BANNED FOR EXPORT BY 12 JANUARY 2014
COALspot.com - Indonesian government is in the process of drafting an amendment for government regulation 23/ 2010.
GR 23/2010 has issued to sup ...
Wednesday, 06 July 11
ATLAS RESOURCES TO OFFLOAD 17 PERCENT IPO - INSIDER STORIES
Coking and thermal coal miner PT Atlas Energi Resources aims to offload 17percent new shares of its enlarged capital after Eid-Fitri holidays, as qu ...
Tuesday, 05 July 11
UNTR REVISES UP SALES TO 7,500 UNITS - INSIDER STORIES
PT United Tractors Tbk (UNTR), distributor of Komatsu heavy equipment and parent of PT Pamapersada Nusantara, has revised up its equipment sales tar ...
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Showing 5201 to 5205 news of total 6871 |
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- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Planning Commission, India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
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