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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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Sunday, 31 July 11
CAPES ARE TRADING BELOW $ 9500 PER DAY - VISTAAR
COALspot.com - The BDI further softened by 4.46 pct and closed at 1264 points which touched below 1300 points after long time. The Cape and Panamax ...
Friday, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
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- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Planning Commission, India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
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