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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, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
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- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Minerals Council of Australia
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