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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, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
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