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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$13,000 for 1 year period redel worldwide” concluded BRS.
Source - Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
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- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
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