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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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Thursday, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
Wednesday, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
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- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Economic Council, Georgia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Videocon Industries ltd - India
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