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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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- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- The University of Queensland
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
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