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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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Wednesday, 20 July 11
DRY BULK MARKET KEEPS ON FALLING ON SOFTENING CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated to lower ground on Tuesday, as the industry’s benchmark, the BDI (Baltic Dry Index) fell to 1,330 points, down b ...
Tuesday, 19 July 11
82 MIO TONS OF COAL TO BE SUPPLIED FOR DOMESTIC MARKET
Indonesian Coal miners were required to supply 82 million tons of coal to Domestic market in this year. This is a 2.53 percent higher than last year ...
Monday, 18 July 11
IMFA BUYS A INDONESIAN COAL MINE FOR USD 8.7 M
Indian Metals and Ferro Alloys (IMFA), the largest producer of ferro chrome in the country, today said it has acquired 70 per cent stake in an Indones ...
Sunday, 17 July 11
THE COAL PRICES ARE SOFTENING DUE TO LESS DEMAND - VISTAAR
COALspot.com: The markets were down last week with BDI down by 6.63 points and closing at 1,353 points. The most affected was Cape index which was d ...
Friday, 15 July 11
DRY BULK MARKET SUFFERS NEW BLOW, RETREATS EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell even lower yesterday on the back of lower demand for larger vessels, like Capesizes and Panamaxes. The industry’s ben ...
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- Wood Mackenzie - Singapore
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
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