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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, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
Tuesday, 27 September 11
A STRONG REBOUND FOR THE CAPE MARKET - BRS
A strong rebound for the Cape market, as cargoes continued to flow into the market and tonnage remained tight in the Atlantic, according to Barry Ro ...
Tuesday, 27 September 11
INTRACO SEALS US$25.3 MIO ORDER - INSIDER STORIES
Insider Stories reported that, Heavy equipment distributor PT Intraco Penta Tbk (INTA) obtained a US$25.3 million order on hand of heavy equipments ...
Sunday, 25 September 11
THE CHARTER RATES FOR INDONESIA TO INDIA WAS FIRM - VISTAAR
COALspot.com - The freight market moved up sharply with the cape Index up by 11 pct pushing the BDI by almost 6 pct and closing at 1,920 point ...
Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those wi ...
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- Central Java Power - Indonesia
- Planning Commission, India
- Siam City Cement - Thailand
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Wilmar Investment Holdings
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
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