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Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are constantly evolving and changing. The Baltic Dry Index (BDI), the industry’s benchmark, fell yesterday to its lowest in more than three weeks, ending the session down to 1,400 points, retreating by a total of 0.85%. The main reason was the weaker capesize activity, with shipbrokers reporting lower demand. As a result, the Baltic Capesize Index fell by 2.19% to 1,694 points, while a smaller fall of 0.6% was also noted in the Supramax segment. The only “survivor” of this latest downfall of the market, has, so far, been the Panamax market, which is steadily outpacing the oversupplied Capesize one. Panamaxes were higher by 1.28% yesterday to 1,975 points.
In its latest weekly report, Paris-based shipbroker Barry Rogliano Salles (BRS) said that the past week was characterized by yet more instability, with the Capes, Supras and Handies losing ground, and the Panamax gaining, a pattern carried on in this week as well. “Stockpiles of imported iron ore at China’s major ports rose by almost 1% this week to a new high of 93.43 million tonnes. It follows a 0.8% increase in imports in May to 53.3 million tonnes compared to the previous month. Despite government efforts to curb overheating, and low profit margins for the industry, production at China’s steel mills remains robust. The mills produced a record 60.25 million tonnes of steel in May. Demand is expected to stay strong until July, when the quieter summer season begins. Power rationing could also curb some activity between June and September” said BRS.
On the Capesize market, it said it’s been “a quiet start to the week saw rates drop in the Pacific, and then subsequently spread to the Atlantic. Overall the BCI dropped nearly 11% to 1735, with Atlantic routes taking the biggest hit. In the Pacific, Tubarao-China was fairly busy but ultimately rates dropped around 5% w-ow, and out of Australia there was a good flow of cargoes, but even here the oversupply of tonnage pushed rates down slightly by around 3%. The 4TC finished on Friday at US$9,320 per day, down from US$11,773 the previous week. The BCI dropped 12 points on Monday, and there was uncertainty about the future direction of the market” said the shipbroker.
As for the best performing market, the Panamax one, “Friday to Friday, the Panamax market rose by US$1,300 in the Atlantic (US$16,800 per day) and $1,400 in the Pacific (US$14,500 per day). In the Pacific, the Indo and Australian coal cargoes were keeping prompt vessels active, giving some fresh air to owners. Out of India, however, iron exports were less active and vessels were not achieving more than US$12.50 pmt basis ECI/China route. In the Atlantic, the number of available ships was much less than a month ago and this basin seemed to have found a real stability. Period wise, the market has been extremely quiet throughout the week mainly due to a weak forward FFA market. Rates for short period remained stable at around US$14,000/14,500 per day for short period dely North China redelivery worldwide” noted the report.
Finally, on the smaller ship types of the Supramax and Handysize class, BRS mentioned that “the Baltic Supramax Index came off last week from US$15,004 to US$14,009, mainly driven by the eastern side due to the oversupply of vessels in the Pacific and the start of Indian monsoon. A 56,000 dwt was fixed for a Nopac round last week at US$13,500 daily, while a week later a 52,000 dwt was fixed at US$10,000 for a similar trip. Supramax have been fixed from India to China around US$9,000 daily compared to a week earlier when it was around US$12,000. The worst we noted was a Supra fixed spot China to ECSA at US$6,500 daily. The Atlantic remained stable due to a good activity in USG and ECSA, in particular a 58,000 dwt was fixed at US$28,800 from USG to Cont. In the smaller sizes, the Baltic Handysize slightly decreased by 16 points to reach 749, while the average of the TC close at US$11,110. Handysize were fixed in the high teens from ECSA to Cont, and similar numbers have been seen from USG. The Black Sea saw a lack of activity this week but rates remained ok with a modern 28,000 dwt fixed at a good rate of US$7,500 to USG, while other vessels were fixed at US$10,000 to Wafr. In the East, rates are decreasing slightly and a 37,000 dwt was fixed for a Nopac round at a similar rate as Supramaxes at US$10,000, in line with the Baltic index. Only one fixture has been reported from India to China for a 33,000 dwt, also at US$ 10,000.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
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- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Australian Coal Association
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- White Energy Company Limited
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- The University of Queensland
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
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