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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, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
Tuesday, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
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- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- PTC India Limited - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
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