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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, 03 June 10
GOVT CONSIDERING IMPORT PARITY PRICE FOR DOMESTIC COAL
The government on June 1 said it is considering to price domestic coal on par with global rates, a move which may increase the cost of the raw mater ...
Wednesday, 02 June 10
SRI LANKA TESTS 1ST COAL POWER PLANT IN SEPT.
Sri Lanka will start testing its first 300 MegaWatt coal power plant in September with plans to connect it to the national distribution grid by Janu ...
Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed ...
Wednesday, 02 June 10
KIDECO TO PRODUCE 29.5 MILLION TONS OF COAL IN 2010
COALspot.com: Kideco to produce 29.5 million tons of coal in 2010 up 4.8 million or about 19 percent up from 2009 production. Kideco produced 24.7 m ...
Wednesday, 02 June 10
PLN TO DEVOUR 133 PERCENT MORE COAL IN NEXT FIVE YEARS
The Jakarta globe reported that, State electricity company PT Perusahaan Listrik Negara will more than double the amount of coal it uses over the ne ...
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- Karbindo Abesyapradhi - Indoneisa
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- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
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- Sindya Power Generating Company Private Ltd
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- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
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- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
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- ASAPP Information Group - India
- Central Electricity Authority - India
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- Singapore Mercantile Exchange
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Chamber of Mines of South Africa
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- New Zealand Coal & Carbon
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- Planning Commission, India
- Interocean Group of Companies - India
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- Kalimantan Lumbung Energi - Indonesia
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- GVK Power & Infra Limited - India
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- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
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- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
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- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
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- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- The University of Queensland
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
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- IEA Clean Coal Centre - UK
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