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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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Wednesday, 29 June 11
ANOTHER STRONG PERFORMANCE BY CAPESIZE - BRS
Another strong performance by the Capesize market this week, bringing the BCI up 8% to 1,974 points. However the Panamax market was penalised, losin ...
Monday, 27 June 11
THE IRON ORE IMPORTS BY CHINA SEEMED TO SLOW DOWN - VISTAAR
COALspot.com - The BDI was holding as previous week and was just up by 1 point and closed at 1424 points end of last week. The biggest gain was ...
Friday, 24 June 11
THE INDONESIAN GOVERNMENT WILL NOT EXTEND ALL EXPIRED MINING CONTRACTS - JAKARTA UPDATES
The Indonesian Government have decided not to extend all mining concessions under the scheme called Contract of Work and instead will take over the ...
Friday, 24 June 11
BERAU EYEING 70 PERCENT GROWTH IN EBITDA
Indonesia's coal producer PT Berau Coal Energy Tbk (BRAU) is eyeing a 60 -70 percent growth in EBITDA to US$ 560 million-US$595 million this year. ...
Thursday, 23 June 11
DRY BULK MARKET KEEPS EXHIBITING SIGNS OF WEAKNESS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to climb at new highs this week, showing signs of weakness, across most ship types. Yesterday, the Baltic Dry ...
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Showing 5211 to 5215 news of total 6871 |
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- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
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