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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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Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
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- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Agrawal Coal Company - India
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