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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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Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
Wednesday, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
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- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- GMR Energy Limited - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
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