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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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Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
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 steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
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 steadil ...
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- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Minerals Council of Australia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Australian Coal Association
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
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