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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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Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 p ...
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.ha ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
Tuesday, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
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- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- VISA Power Limited - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
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