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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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Friday, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
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- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- VISA Power Limited - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
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