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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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Monday, 20 June 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2011 IS ON THE WAY
Press Release - Since the beginning of 2011, international commodity price has been in a high level, resulting in “TENSION” of energy co ...
Sunday, 19 June 11
S6 AND S7 ROUTES LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market seemed to be stabilizing and the BDI and Cape index was up marginally and closed at 1,423 points and 1,824 points ...
Sunday, 19 June 11
BUMI 1Q NET PROFIT INCREASES 16.5 PERCENT
PT Bumi Resources Tbk (BUMI), Indonesia's largest coal exporter that is 25% owned by London-listed Vallar Plc, reported a16.49% increase in net pro ...
Friday, 17 June 11
DRY BULK BREATHES SIGH OF RELEAF ON RENEWED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has caught a sign of relief from the middle of the week onwards, as the BDI (Baltic Dry Index) increased once again yesterday, t ...
Thursday, 16 June 11
BOOSTING THE USE OF LOW CARBON ENERGY FOR A BETTER WORLD
Bali, Indonesia host of world renewable energy congress – Indonesia, international conference & exhibition on renewable energy and energy ...
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- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- The University of Queensland
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
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