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Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
 In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path. The industry’s benchmark, the Baltic Dry Index (BDI) fell by 1.15% on the day to end down to 1,291 points. The main losses were attributed to the panamax segment, with the relative index falloing by 2.62%. The Capesize market was also down by 1.27% on the day.
According to the latest dry bulk weekly report from shipbroker Barry Rogliano Salles, it was another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. The latter may see a drop in activity in the coming weeks due to the Mississippi floods which are reported to be affecting current barge traffic.
In the coal market, the newly active US coal export market warned future growth could be constrained by infrastructural limitations. The US coal industry logged exports of around 25m tonnes in the first quarter of 2011 but Xcoal Energy chief executive Ernie Thrasher said producers would be unable to export more with the current east coast terminal capacity. US coal exports have provided significant new tonne-miles for the dry bulk market as coal supplies have become tight, but it appears they will be capped at around 100m tonnes per year due to the current infrastructure.
Commenting on the Capesize market, it mentioned that “although the drift is not significant, the Capesize recorded another week-on-week decline this week. The four time charter average finished at US$6,002, a drop of US$775 from the previous Friday, with the largest declines logged Aus-China, and Braz-China not far behind. There was a flurry of activity by the Australian mining groups, but there was ample tonnage to meet the demand and rates did not improve. The bearish sentiment was also evident in the FFA market with the Q3 contract losing 12% w-o-w to finish last week at US$9,036 and Cal 12 10% w-o-w. Monday was another typical day with the BCI sliding 19 points, with no signs of a severe drop but none of a major improvement either” said the shipbroker.
On the panamax front: “the BPI slipped by US$400 week-on-week. The Atlantic remained stable thanks to a good balance between cargoes and ships; even spot vessels managed to fix at good levels at close to US$14,500/day on the TA round. Out of ECSA, the market eased throughout the week and the fronthaul lost US$1,000 to close at US$22,500/day. Indian exports eased too and the Panamax rate Goa-China was close to US$13 pmt, down US$2 pmt from the previous week.
The Nopac and Far East markets were quiet and by the end of the week the number of vessels had started to increase, pushing the NOPAC round closer to just US$12,000/day. Friday to Friday, the period market interest vanished and very few vessels were reported fixed – the market for a Tess 74 BPI type was in the low-mid US$14,000s/ day, a US$2,000 drop from a week ago” said the report.
As for the Supra and Handy markets, they “witnessed a steady flow of activity last week with barely 5 points difference between Monday and Friday for the Supras and just 1 point for the Handies. We saw a slight drop in the Supras in the Far East, which appeared to be linked to the drop in paper values. India –China voyages went for about US$14,500 even though some owners tried to resist and rated ships at US$16,500 for the same routes. Indo – India went for an average of about US$17,500/day.
We still saw strong numbers such as US$30,000 from the US Gulf to the Far East. The market anticipated an immediate impact from the floods in the Mississippi but this was not the case. Continent-Med trips went for about US$18,000 while ECSA-Cont went for US$28,000. The Med was nearly dormant for the Supras. Out of the Black Sea we started to see some Corn cargoes for the first time since May last year. The rates are still not the best as a few Handies were fixed at about US$6,000 for trips Black Sea-Cont and about US$9,000 Med-Cont. Handies went for an average of about US$20,000 for US Gulf–Cont voyages and about US$22,000 for Cont –Far East trips.
On the period front, we noticed many ships who were willing to go for short period but not many takers. Supras went for about US$14,000 for 4-6 months delivery east Med redel Atlantic and another at US$15,000 same 4-6 months redel Atlantic. A Handy went for US$13,000 for 1 year period redel worldwide” concluded BRS.
Source - Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
Tuesday, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
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- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
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