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Tuesday, 21 June 11
DRY BULK MARKET TURNS RED AGAIN ON VESSEL OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk entered this week on a negative turn, with the industry’s benchmark the Baltic Dry Index (BDI) retreating by 0.35% to end the session down to 1,418 points. Still, sentiment was mixed between the various ship types and markets, with Capesizes faring better than smaller vessels and finally edging ever so closer to the Panamax market, in terms of average daily earnings. Yesterday, the Baltic Capesize Index (BCI) was higher by 0.66% to 1,836 points. This, combined with the Panamax’s market retreat by 1.62% to 1,883 points meant that the two larger vessel types are ever so close. During the previous months, the panamaxes earning more than their larger counterparts has been a typical “abnormality of the market”, on the back of higher supply of capesize vessels.
In a relative report, Paris-based Barry Rogliano Salles mentioned that the Capesize market was the sole positive positive performer this week, with the BCI up 5%, while all the other segments suffered losses. The BPI lost almost 1% to finish at 1914 points, while the BSI and the BHSI lost 2% to 1319 and to 734 respectively. On the Capesize market, the report noted that “after a soft start to the week, rates picked up and the BCI finished Friday at 1824 points, and the 4TC at US$10,120 – a 9% increase on the previous week. The Atlantic saw a good recovery with rates going up 7-8%, while Hedland-Qingdao also saw a small boost. There were also some signs of a pick-up in China coal demand with fixtures being quoted for longer haul routes. The period market continues to soften, however, and a 171,000 tonner was fixed for 9-11 months with China delivery at US$10,250 per day, a new low for the market. The market is also seeing a drop in demolition rates in the Indian sub-continent, signaling that the supply of tonnage going for scrap may now be taking its toll on prices” said BRS.
It is worth noting that Vale announced this week that its new ‘Valemax’ vessels would reduce its shipping costs by around 20-25%, and that it would ‘keep building as much as is necessary’. Vale said iron ore shipping costs for the company would drop to between $17-$18 per ton with the new ships, compared to $22 per ton today. The company also declared ‘a few ports’ in China were ready to accommodate the vessels. Vale calculates its freight costs based on a 10 year average operating cost plus a good return on the capital investment for a basket of vessels including Capesizes and the new mega sized vessels. Vale admitted the ships would have greater benefit in the a harder market: “Today we have got the best possible market situation with high iron ore prices and low freight rates but we want to be ready for when the market turns."
In terms of the Panamax market, it “stayed flat this week with the 4TC average easing by $100 to close the week at $15,344 per day. The Pacific market fell by $550 to just below $14,000 per day.
The Indian Ocean stayed quiet and iron ore out of WCI/China was muted – Panamax vessels open there were able to fix at around $12-12.50 pmt for trip from WCI to China.
In the Atlantic, the market peaked on Wednesday and then eased by $300 per day Thursday and Friday. W-o-w the TA increased by $200, to end the week at just below $17,000 per day.
Period wise, the short period market stayed flat at $14,000 with a small number of vessels being fixed” said the report.
As far as the Supramax/Handy markets are concerned, BRS mentioned that “the Far East remained unexciting with a definite lack of cargoes and plenty of ships in every position. Consequently the market weakened further, falling to below $10,000 for Nopac or Australian round voyages. Another bleak area was India, where the monsoon has started hitting owners hard, leaving no alternative but to ballast either to South Africa or further away to ECSA or the Singapore area. South America saw a flurry of activity with a good number of fixtures to any destination, supported by sugar and grain exports. Several Supramax have been fixed in the region of $20-21,000 + $400,000 ballast bonus, with ECSA delivery for trip out. The transatlantic remained steady, with rates equating to mid teens for round voyages. The USG remained firm with several petcoke stems, leading to rates in the mid $20,000s for trip Continent or Med. Handies fared well, averaging low teens over the week, irrespective of basin”.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
Tuesday, 02 August 11
INDONESIA BECOMES SECOND LARGEST COKING COAL EXPORTER
COALspot.com - Indonesia, the largest thermal coal exporter in the world now becomes second biggest coking coal exporter to Japan. Indonesian’ ...
Tuesday, 02 August 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK TO PRESENT LATEST TRENDS
Press Release - Global commodities prices have been staying high since the beginning of 2011, resulting in the “TENSION” in various coun ...
Tuesday, 02 August 11
REALM RESOURCES TO ACQUIRE A 75% INTEREST IN THE KATINGAN RIA COAL PROJECT
COALspot.com - Scoping study at the Katingan Ria Coal Project, Central Kalimantan demonstrates positive technical and financial potential for the pr ...
Tuesday, 02 August 11
COAL INDIA TO INVEST IN GOLDEN ENERGY MINES
COALspot.com - Golden Energy Mines, part of PT Dian Swastatika Sentosa Tbk’s, is still negotiating with several strategic investors to o ...
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- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Economic Council, Georgia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Planning Commission, India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
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