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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, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
Friday, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
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- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
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