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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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Thursday, 19 May 11
INDONESIAN COAL EXPORTS DROP 7.98 PERCENT IN APRIL
COALspot.com - Indonesian coal exports dropped to 2.168 million tons in April, and up 7.13 percent on the year and 7.98 percent below March, a ...
Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
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. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
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- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
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