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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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Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
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- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- The University of Queensland
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Economic Council, Georgia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
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