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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 $13,000 for delivery Far East with redelivery worldwide” concluded Barry Rogliano Salles.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
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- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- The University of Queensland
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
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