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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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Tuesday, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
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- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Parliament of New Zealand
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Planning Commission, India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
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