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Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadily falling, trimming the gains achieved during the past couple of weeks. Yesterday, the BDI was down by 0.42% to 1,428 with Capesizes once again on the downside. The Baltic Capesize Index (BCI) fell by 1.89% to 1,767. By contrast, the only positive tone in the market at the moment is the Panamax segment, which recorded gains of 2.42% yesterday to 1,903 points. Brokers indicated that ship supply is still weighing down in the market, with each single event in terms of cargo supply, being enough to send rates on a falling pattern. Vale’s deployment of the first in many of the world’s largest carriers, the so called Very Large Ore Carriers (VLCOs), able to carry 400,000 tons, isn’t also helping the situation.
Earnings for panamaxes, which usually transport 60,000-70,000 tonne cargoes of coal or grains, have more than halved since the same period last year said Reuters in a story. Brokers said coal cargoes from Australia and Indonesia to China was providing some support, although gains were capped by slower grains activity out of South America. It went to mention that operators were watching for further signs that China's economy was slowing, given the dry freight market's dependence on Chinese imports, especially of coal and iron ore.
In its latest weekly report, shipbroker Fearnley’s said that the Capesize market “cold water is again coming out of the shower for owners as spot levels fall due to softening demand - average daily earnings down 10% w-o-w to come in at USD 10k. In Atlantic, fronthaul activity is cooling down, although rates not yet dramatically affected. The sudden lack of transatlantic trade is more felt, with a resultant drop of almost 30% to an estimated USD 10k/day.
Far East remains challenging and keeps hovering around OPEX levels – low USD 7k´s for rounds and uninspiring USD 7.50 pmt for the Dampier/Qingdao conference trade. As forward paper prices give no support at present, period activity has come to a halt after a handful of units were concluded for short and medium periods - exemplified by 174kdwt/blt 2006 done for 12 months at USD 11k and 169kdwt/blt 2009 done for 4-6 months at USD 10500, both basis prompt delivery in Far East” said the report.
In the Panamax market, “after a slow end to last week and even slower start to this week, the market improved on Tuesday in both hemispheres. The Atlantic saw several fresh cargoes fm USEC and ECSA, and in the Far East the upturn came due to fresh coal cargoes from Aussie and Indonesia to China. Now, at mid week, we are again at a crossroad with the players not sure where the market will be heading. We see some more interest in period deals now, and seems chrts feel the rates at ard USD 14k are interesting for twelve months. Atlantic rounds are getting fixed at ard USD 16k while front hauls are being fixed in the low/mid USD 20k´s. Pacific rounds are being fixed around 13.5/14k while the backhauls are getting fixed around USD 6k´s” said Fearnley’s.
As for the smaller ship types, the report mentioned that it’s been a fairly quiet market across the board with another flat week/stagnant rates in store. “Nevertheless, tonnage is thinning out in the Black Sea for the second half of June which might give some improvement on rates. Little activity on the Continent. USG remains stable on the back of regular petcoke exports. In the ECSA more cargoes are programmed for the second half of June thus look for better rates there in near future. The Pacific market is falling further with less activity. For Indo-India, Supras in North China are getting close to 10k. Nickel-ore rounds are getting firm rates in low-mid teens from Indonesia. WCI-China rates slided to 13k 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 now asking 14k. Period deals done at 14-15k for large Supras” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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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 ...
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 (BD ...
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- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- PTC India Limited - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
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