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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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Tuesday, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
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- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Australian Coal Association
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Planning Commission, India
- PTC India Limited - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
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