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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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Sunday, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Aver ...
Thursday, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured e ...
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- Economic Council, Georgia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- The University of Queensland
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
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