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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% to 1,446 points. Capesizes and Panamaxes have been the stars so far, with the Capesize market gaining 4.08% and the Panamax one returning to rising levels by an equally impressive 4.39%. Of course, one should take into account that traditionally this time of the year, the dry bulk market experiences its highest seasonal demand, which could help justify this week’s rise. But, on the other hand, oversupply issues haven’t just “magically” gone away and will keep on pressing the market and causing high rate volatility.
Yesterday, brokers and analysts alike were speculating that behind this week’s rise, is the potential decommissioning of some vessels.
“No owner’s going to continue doing business at $4,000 a day or $6,000, below operating costs,” said Hendrik Leusink, division executive for capesize and panama vessels at Island View Shipping SA, South Africa’s biggest commodities shipping line.
Quoted by Bloomberg he mentioned that “people will put ships into temporary lay-up or idle ships.” Operating costs for the vessels are between $7,500 and $8,000 a day, according to estimates from London-based Simpson Spence & Young, the world’s second-biggest shipbroker. Capesizes were below that level from April 11 to May 19.
In its latest weekly report, Fearnley’s mentioned that finally there were some good news for Capesize ship owners, even though rates in general are at a historic low and fundamentals have changed very little over the week. “Driven almost entirely by increased transatlantic coal trades and a steady volume on the Brazil/China iron ore run, average spot levels are up more than 50% to come in at close to USD 9k. Pacific is slow and eventless in comparison, though, with resultant levels for the WAust/China ore run only marginally up at USD 7.35 pmt which is still below opex. Expectations are there for this to last a little longer, thus more period fixing is expected - last done is 178kdwt/built 1998 done for 10-14 months at USD 10700/day basis delivery Qingdao mid June” said the report.
In the Panamax market, “after a slow start to the week, we saw more cargoes in the market on Tuesday with both coal from US and grains from ECSA. Especially the Pacific basin took a turn on Tuesday evening with chrts chasing prompt ships which were lacking. NoPac rounds were fixed at around 14k and still climbing, while the Atlantic rounds were fetching around USD 15k. Fronthauls hovering around USD 250k. It has been some short period activity this week with rates hovering around 13/14k. It was also rumored a kmax being fixed and failed for 3 years at a tick more than USD 14k” mentioned the shipbroker.
Finally, for the smaller ship types, “rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnage on ppt /beg of June positions. US Gulf to the Far East is slowly but surely firming further and more activity seen on transatlantic round voyage. ECSA is balanced with very little movement on rates. Outlook: stable. The Pacific market remains soft and owners unwilling to come in India due to lack of outbound cargoes. For Indo-India, Supras in North China are getting close to 12k. Nickel-ore rounds are getting firm rates in mid-high teens from Indonesia.
WCI-China rates slided to 15k and from ECI around 12k. Red Sea; ferts on handymax/ Supras are fixed at very mid 20´s pmt on voyage basis to WC India. Large Supras for RBCT/India round are now asking 15k. Short period deals done at mid-teens for large Supras” concluded Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 07 May 11
SUPRAMAXES ARE AT AROUND $ 13,500-14,000 PER DAY FOR SINGLE TRIPS
COALspot.com - The freight remained fairly steady this week with the BDI up by 71 points and closing at 1,340 points, said Capt. Reddy, the director ...
Saturday, 07 May 11
COAL PRODUCTION MAY REACH 95M TONS IN SECOND QUARTER - THE JAKARTA POST
The Jakarta Post reported that, Indonesian miners are projected to produce around 95 million tons of coal in the second quarter of this year after l ...
Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES
The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now ...
Thursday, 05 May 11
SUPRAS IN NORTH CHINA ARE GETTING CLOSE TO $ 13K FOR INDO-INDIA
Handy
The Atlantic market is stable/flat with positive undertone meaning more enquiries hitting the market today. Lack of prompt vessels. Trips to ...
Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
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- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
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