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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, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
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- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
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