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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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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 ...
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 ...
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- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Australian Coal Association
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
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