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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, 23 June 11
DRY BULK MARKET KEEPS EXHIBITING SIGNS OF WEAKNESS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to climb at new highs this week, showing signs of weakness, across most ship types. Yesterday, the Baltic Dry ...
Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 m ...
Tuesday, 21 June 11
SURGE IN PRODUCTION AND PRICES TO PUSH BUKIT ASAMS NET PROFITS ABOVE RP 3T - THE JAKARTA GLOBE
State-owned coal company Perusahaan Tambang Batubara Bukit Asam expects its net income to increase about 50 percent this year on the back of rising ...
Tuesday, 21 June 11
COURT BATTLE PUTS MASSIVE COAL PROJECT IN JEOPARDY - KOREA JOONGANG DAILY
As Korean companies race to exploit Indonesia’s abundant natural resources, two companies have been locked in a court case that has become so ...
Monday, 20 June 11
KPCL SETS ALL INDIA & POSSIBLY A WORLD RECORD FOR COAL DISCHARGING
COALspot.com - Krishnapatnam Port has set an all India record for discharging 95,528 tons of steam coal in just 24 hrs using the conventional unload ...
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- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- The University of Queensland
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- MS Steel International - UAE
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
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