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Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
 The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (BDI) from late 2008 and until today. Yesterday, the industry’s index was almost stagnant, falling by a marginal 10 points at 2,981, with the panamax and supramax sectors posting small gains, while the larger capesize vessels losing some ground.
The latest weekly report from Paris-based shipbrokers Barry Rogliano Salles (BRS) said that rates came under pressure last week, with all segments posting declines except the capsizes. “Overall the BDI logged a 3% drop, despite a 5% increase in Cape rates” said the broker.
Of course, the past week’s news were all about the outcome of the iron ore negotiations, where both participating sides turning up the heat. “China’s Iron and Steel Association called on its members to impose a two-month boycott of the three major miners in protest at steep price rises. CISA said stockpiles were sufficient to keep the mills supplied for this time, although opinion was divided whether CISA’s 120 members, accounting for 90% of China’s steel output, could be persuaded to comply. Members may fear a repeat of last year, when they refused prices agreed by the Japanese only to see spot levels continue to climb.
Meanwhile Vale stated it had signed new quarterly contract deals with the vast majority of its clients, equivalent to 90% of sales volumes under contract. It is not clear how many Chinese buyers are included in this total, however. More than three-quarters of Vale’s sales to China were made on a spot basis in 2009. However the Brazilian miner did say it expected to sell 45% of its volumes to China on the spot market in the current year” said BRS.
On the capesize front, it was a stronger week, although for the most part gains were only evident on the Tubarao - China, and Richards Bay - China routes where rates jumped between 7%-13% between Monday and Thursday. Rates hardly moved in the Atlantic, where there was little fixing. Sentiment still seems relatively positive for the short term, with both period charters and forward rates above spot prices. Third quarter FFA rates are currently trading at US$32,570/day. Overall the four time charter finished at US$30,641/day on April 1 ahead of the Easter holiday. However at the resumption of business on Tuesday it fell back to US$29,919, while the BCI fell 52 points to 3,377 points.
Meanwhile, on the Panamax front and particularly in the Pacific, cargo enquiry, especially for Indonesian coal, returned again, after an almost two-week break. “Time charter levels are now above $28,000 per day for a modern Panamax delivery. At the same time, we have also seen many vessels open for prompt dates, especially older vessels without RightShip approval. Some iron ore traders are still active, especially on WCI and PG: older Panamaxes open WCI were fixing at US$28,000/day back to China for dates at the end of April, and at least US$37,000 daily for a modern Panamax open PG prompt. Some vessels open Singapore or south east Asia are still opting for ECSA grain, with modern Panamaxes pushing for over US$33,000 per day and older vessels for mid/high US$20,000s” said BRS.
As for the smaller supramax/handy vessel types, rates were declining across the board last week, with the supramax time charter average ending the week at $25,188, compared to $28,829 in the previous week. As for the handy market it stood at $19,781 versus $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
Tuesday, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
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- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Planning Commission, India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Deloitte Consulting - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
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