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Wednesday, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BDI) increased by 1.48% and reached 1,369 points, the highest it’s been in six weeks. Capesizes and Panamaxes were the main gainers. Especially, the larger Capes have gained 43% in the past four sessions, bringing the daily average charter rate up by 43% to $8,065. At the same time, the up until recently struggling panamax market was up once again, this time by 2.7% with daily average rates now reaching $13,724.
According to the latest report from shipbroker Barry Rogliano Salles, the past week was deemed an unusual one, with Capesizes being the only segment to post significant gains. The BCI rose 9% w-o-w, while the overheated Panamax market saw a correction of -3%. Providing some more insight on the Capesize market, BRS said that it was a “strong week in the Atlantic, where rates showed double-digit gains, which lifted the BCI above 1,600 points for the first time in 6 weeks. A scarcity of ships in the region intensified the rate gain in the west and a translantic round was reported at US$8,500. In the Pacific, there remained heavy over tonnaging, although Brazil-China inched up by around 3%, with a possible deal done at US$19.50. Australia-China was unchanged. By the end of the week the four time charter average had reached US$7,754 and rates rose again slightly on Monday to US$8,065”.
Regarding the Panamax market, the report mentioned that “it started the week slowly and eased in all basins mainly due to a lack of fresh orders for prompt vessels. However, from Thursday, the market firmed up again thanks to a busy USG coal export trade and an active ECSA area exporting grain to the Far East. This latter trade over the last month has significantly decreased the available fleet in the Atlantic and pushed the TA round voyage up. The 4TC average Friday to Friday lost US$450 to finish at US$13,364 per day. The TA round lost US$200 closing the week at US$14,000 per day and the Nopac lost US$600 to close the week at US$12,000 per day. The WCI/China route kept flat paying US$13 pmt for Goa/N China trade. Short period activity was quiet throughout the week and rates firmed up by US$300, closing the week at US$14,500 per day” said the Paris-based shipbroker.
As for the smaller sizes, “the Baltic Supramax Index remained at the same levels at the beginning of the week before rising continuously as from Wednesday until the end of the week. Overall the Baltic index gained 20 points to finish at 1,413, while the average of the time charter routes gained US$210 points to end at US$14,770.
The US Gulf was the main driver of the Supramax market, though only a few fixtures were reported. Supras from the US Gulf to the Far East were fixed in the high US$20,000s, and around US$28,000 for Mediterranean destinations. Black Sea to the Far East (via Goa) were fixed around the US$22,000.
In the smaller sizes, the Baltic Handysize saw a mini yo-yo effect but remained steady overall throughout the week. The index lost 2 points to end at 786, while the time charter average lost US$39 to finish at US$11,662. The main event for the Handysize is the revival of the Black Sea market which has started to export grains again. Many players were fresh open with orders mainly to the Continent or the Spanish Mediterranean. Such trips would run around US$18/19,000. Fixtures from East Coast South America to the Far East are in the low US$20,000s and around the high US$10,000s to the Med/Black Sea area. On the Eastern side, Supramaxes ex India to China were fixed around US$13/14,000. Indonesia to India was done in the mid US$10,000s. The Nopac round was fixed at levels of US$12/13,000 dop Far East” concluded the report.
In important news for the market, OECD released a new report confirming strong expansion in world steel markets and forecasting 6% growth for both 2011 and 2012. World steel output growth slowed in the second half of last year but, on the back of Chinese demand, rose nearly 10% in the first quarter of 2011 q-o-q. However Chinese growth is expected to fall to around 5% in 2011 and 2012. Overall the world economy had seen strong recovery in automotive manufacturing in both the mature and developing economies, though demand in the construction sector has yet to recover in the advanced economies.
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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- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- GMR Energy Limited - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
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