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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, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
Wednesday, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
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- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
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