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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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Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
Wednesday, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
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- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Australian Coal Association
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
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