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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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Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
Tuesday, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
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- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
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