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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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Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
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- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- London Commodity Brokers - England
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Ministry of Mines - Canada
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
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