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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, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
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- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- The University of Queensland
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
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