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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 $20,000s for trip Continent or Med. Handies fared well, averaging low teens over the week, irrespective of basin”.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 23 July 11
FAR EAST /SE ASIA ROUTE GAINED US$ 3000 HIGHER THAN LAST WEEK - VISTAAR
COALspot.com - The BDI further softened to by 2.22 pct and closed at 1323 points. The Cape and Panamax index also softened and closed at 1841 points ...
Saturday, 23 July 11
PANAMAX MARKET FACED A LIMITED ACTIVITY IN ALL BASINS
Handy
Atlantic softening across all segments with little fresh enquiry ex Bsea/Cont/USG and ECSA. Trips to Far east remain healthy. More cargoes ex ...
Friday, 22 July 11
MARUBENI ACQUIRING 42.86% SHARE OF YTL JAWA POWER HOLDINGS
COALspot.com - Japan’s Marubeni Corporation acquisition 42.86% stake in YTL Jawa Power Holdings BV, which owns a 35% equity interest in Indone ...
Thursday, 21 July 11
INDIA IMPORTS 36.033 MILLION TONS OF INDONESIAN COAL TILL JUNE
COALspot.com - Indonesia shipped 28.27 Million tons of coal in June 2011, a 2.3 percent lesser than May export of about 28.962 million tons, I ...
Thursday, 21 July 11
COAL PRICES ARE AT US$ 120 A TONNE
COALspot.com - Indonesian coal production in 2011 is expected to reach 360 million tons or 5.8 percent higher than government's forecasts. The incr ...
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- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Australian Coal Association
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
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