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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, when the Baltic Dry Index (BDI), the industry’s benchmark was back on retreat mode, as a result of a lacklustre Capesize market.
The BDI ended yesterday’s session down by 0.83% to 1,437, with the Capesize sector losing the most. The relative Baltic Capesize Index was down by 1.47% to 2,084 points, while Panamaxes managed to offer a sigh of relief to ship owners, ending Monday’s session on a higher note, up by 0.48% to 1,692 points.
According to the latest weekly report on the dry bulk market from Paris-based shipbroker Barry Rogliano Salles (BRS), “there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gaining almost 3.5% and 6% w-o-w to 2,115 and 1,684 points respectively. Conversely, the Supramax and the Handies lost about 2.2% and 1.8% respectively, falling to 1,277 and 699 points.
Despite the supposed end to the Karnatake ore export ban, it will be some time before India’s exports return to normal. The Federation of Indian Mineral Industries this week predicted exports would reach between 70-75m tonnes in the current financial year, compared to 95 million tonnes in 2010/11, and 117m tonnes in 2009/10. FIMI attributed the decline to the ongoing delay in lifting the ban, plus higher export duties and rail freight rates. India also faces another possible tax in the form of a royalty sharing mechanism” said the shipbroker.
Regarding the Capesize market, BRS mentioned that it was “another firmer week for the Capes, with the 4TC rising $748 to just under $14,000 at close, and the BCI touching 2,115 points. The Pacific showed strong gains and $8.50 was recorded for Hedland-Qingdao with one fixture reported at $8.75, while Tubarao-Qingdao reached $20.70. Tonnage was again tight in the Atlantic, though both basins softened at week end. Friday saw the 4TC’s first loss in June, and sentiment seems braced for further declines this week. The effect on paper prices was a $875 and $585 increase on July and 3Q prices. $12,000 per day appeared to be the going rate for 4-6 month charters by close. The 4TC fell $420 on Monday.
On the Panamax front BRS noted that “after a sluggish beginning to the week, a marked improvement was recorded in the latter half across both TA and Fronthaul markets, with the 1A and 2A indices recording increases of $1,142 and $980 respectively between 01/07/2011 and 08/07/2011. Sentiment improved on the back of increased cargo volumes and a tightening of prompt tonnage in the Atlantic, with TA rates hovering around $16,000 and Fronthaul levels steadying around low $20,000’s per day. Indeed, the Atlantic basin has appeared more supported in recent days, as opposed to the Pacific which came under a great deal of pressure the previous week due to stubbornly high levels of available tonnage. A number of short period fixtures were reported in the East this week for 4/6 months in the region of $12,500 per day; however overall sentiment continues to remain cautious in the face of a long list of open ships in the market, with only slight improvements seen in spot Pacific spot rates” it said in the report.
Finally, regarding the Supramax/Handy segment, “the Supramax market followed the trend of the previous week. The BSI lost about 2% from Friday to Friday, the average of the TC routes closing the week at $13,356. In all areas the market is softening. Supramaxes are getting fixed in the mid/high 20s for petcoke out of the US Gulf with redelivery Med, whereas for redelivery Far East same units are obtaining low 30s. Supras were fixed at about $15,000 delivery West Africa via ECSA with redel Skaw/Passero range and in the low 20s for redelivery East. The Pacific has been rather quiet over the last week. The number of Supramax stems for Nopac and Aussie rounds remain scarce. The number of nickle ore and coal stems has also dwindled. Indian exports of iron ore have all dried up on the west coast with the monsoons, but a handful of stems are now visible along the east coast. The movement of coal into India however has been constant. On the short period front, Supras are being fixed at $15,000 for 3 to 5 months delivery Med with redelivery Atlantic, while levels are around $13,000 for delivery Far East with redelivery worldwide” concluded Barry Rogliano Salles.
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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- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- The University of Queensland
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
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