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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 $8,000” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
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- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
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