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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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Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
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- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- The University of Queensland
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- SMG Consultants - Indonesia
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