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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, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
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- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
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