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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 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
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- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- The University of Queensland
- Minerals Council of Australia
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
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