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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, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
Wednesday, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
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- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Indian Energy Exchange, India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
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