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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 by 0.75% on the day. Capesizes and Panamaxes were weak alltogether, with the Baltic Capesize Index retreating by 0.84% to 1,884 points and the Baltic Panamax Index (BPI) ending the session down by 0.9% to 1,541 points.
According to the latest weekly report from Barry Rogliano Salles (BRS), “there was a softening for the larger ships this week, with the Capesize and Panamax indices falling 9% and 6% respectively to end on Friday at 1,918 and 1,578 points. However the Supras and Handies stayed firm, losing just a handful of points to finish at 1,271 and 696 points.
In the news, it emerged Australian mining newcomer Fortescue has been in talks with Asian yards over a possible order for a series of 250,000 dwt Capesizes. The news underlines the fact that, despite the heavy Capesize orderbook (equivalent to 45% of the existing fleet for Capes over 80,000 dwt), operators with secure or captive cargoes may still order new tonnage given current newbuilding prices. At an estimated $53m, the price for a standard Capesize is now back at 2003 levels once inflation adjustments are taken into account” said BRS.
In terms of the Capesize segment, “despite a decent start to the week, activity declined by the end of the week and rates slipped significantly. Friday-to-Friday the BCI fell nearly 200 points while the 4TC closed the week at $11,500, down from $13,941 the previous Friday. Indeed Thursday saw the 4TC breach $14,000, its highest level since January 2011. As a result of this week’s fall, the Panamax time charter average rose back above the Cape again. Overall, Pacific rates fell 8% and South America-Cont nearly 10%. But Tubarao-China remained fairly steady, losing only 3% over the week. The mixed messages in the physical market saw light trading on paper, but Q4 finished the week at $12,135, higher than the $11,250 logged for August and September” said the Paris-based shipboker.
Similarly, “the Panamax market is still weak and under pressure worldwide. Friday and Monday were almost silent with very few fixtures to report. On the top of the $1,200 lost from July 4-11, the P4TC posted a additional $1,100 loss for July 11-18. Open tonnage in the Atlantic/Pacific and India continues to rise and more ballasters are expected to hit the ECSA this week. In the Atlantic, the TA trip, previously in the mid $15,000s was now aiming at $14,000, with charterers sometimes asking below $13,500, helped by the oversupply. Some fresh cargoes out of the USG have helped to support rates so far but the pressure is now rising. It is the same story for the cargoes out of ECSA as ballasters from the Far East become available, which will enable charterers to push for lower rates. There is a bearish outlook for the coming week. Meanwhile the P2A index dropped by $1,200 last week.
In the Pacific, the freight market eased too on the back of few fresh cargoes. The P3A index lost $1,400 ($8,469/day) and sentiment there is still relatively negative with rates recently done closer to $8,000/day. The monsoon and high iron ore stockpiles in China (imported ore stocks are at a record high) will not impact the market positively. The only market showing some strength was short period, with rates in the $12,800/$13,200 range, which is up +$400/500 on the previous week” mentioned BRS in its analysis.
Referring to the Supramax/Handy markets, the report said that “the Supras have been following the same trend for a couple of weeks now, that is, a slight decrease. The Index lost 2 points over the last week to end up at 1,271 points while the average lost $18 over the week, falling from $13,310 to $13,292. The market was pretty quiet, driven by uncertainty, and modern Supras were fixed from West Africa to the Far East via east coast South America at a touch below $20,000. From the US Gulf area, Supramaxes were fixed to the Continent in the mid $20,000s and in the high $20,000s for Far East direction. For short period, modern Supras were taken in the Atlantic for 3/5 months at around $14,000.For the smaller sizes, the BHSI remained almost steady, losing 2 points and ending the week at 696 points. Handies were fixed in the mid/high $10,000s ex USG to the Black Sea and slightly under mid 10,000s ex Continent to the East Med. In the Pacific Basin, the Nopac fixtures for Supras are in the $9,500/10,000 level, the China round is around $11,000. The Indo to India route is fixed at around $13,000. For Handysize, the Australian round is about $8,000” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
Wednesday, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
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- Planning Commission, India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Australian Coal Association
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
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