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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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Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
Tuesday, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
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- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
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