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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, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
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- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- PTC India Limited - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
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