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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, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Aver ...
Thursday, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured e ...
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Showing 5206 to 5210 news of total 6871 |
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- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- White Energy Company Limited
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- VISA Power Limited - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
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