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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, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
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- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Planning Commission, India
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
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