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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, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Planning Commission, India
- Parliament of New Zealand
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Renaissance Capital - South Africa
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
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