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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 $8,000” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
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- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Australian Coal Association
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
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