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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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Tuesday, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
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- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
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