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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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Wednesday, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
Monday, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
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- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
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