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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 $8,000” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
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- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Planning Commission, India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
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