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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, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
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- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
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