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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, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
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- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- PTC India Limited - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
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