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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, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
Wednesday, 27 April 11
DRY BULK MARKET LACKS ACTIVITY, RATES KEEP RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Easter Holidays for a large of the world now behind, the dry bulk market kept lacking activity on Tuesday, which led the Baltic Dry Index ( ...
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- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- PTC India Limited - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- The University of Queensland
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
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