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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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Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
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- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- The University of Queensland
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Planning Commission, India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Australian Coal Association
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
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