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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 $8,000” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
Thursday, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
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- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
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