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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 $20,000s for trip Continent or Med. Handies fared well, averaging low teens over the week, irrespective of basin”.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power ...
Tuesday, 26 July 11
UT'S SALES COULD REACH TO 8000 UNITS BY THE END OF 2011
COALspot.com - Sales of Komatsu heavy equipment in the domestic market in the first half of 2011 rose 59 percent to 4333 units compared to the same ...
Monday, 25 July 11
INDONESIA STATE ELECTRICITY COMPANY HAS BURNED 19 MMT OF COAL FOR FIRST HALF OF 2011
COALspot.com - Indonesia's State Electricity Company and other IPPs have burned 19 million tons of coal for first half of this year said,Pamudji Nu ...
Monday, 25 July 11
AKR CORPORINDO TO PRODUCE 0.3 MMT OF COAL BY DECEMBER
COALspot.com - PT AKR Corporindo (AKRA) began producing coal from its mine in Muara Teweh, Central Kalimantan. The company is targeting to pro ...
Sunday, 24 July 11
AN INDIAN PORT SETS A WORLD RECORD FOR CONVENTIONAL COAL DISCHARGE
COALspot.com - Krishnapatnam Port has set a World record for discharging 106,171 tons of steam coal in just 24 hrs using the conventional unloading sy ...
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- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- White Energy Company Limited
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
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