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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, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- The University of Queensland
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Planning Commission, India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
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