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Wednesday, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the industry’s benchmark edged further down to 1,253 points, 0.24% lower on the day, but the big news could be found in the positive signs emerged in the Capesize segment. The Baltic Capesize Index (BCI) was up by 0.63% yesterday, which could be coincidental, but could also be the start of a tipping point to the market’s negative sentiment. Elsewhere, Panamaxes were still down by 0.8%, while supramaxes were also down by 0.16% to 1,252 points.
According to the latest weekly report from Paris-based shipbroker Barry Rogliano Salles (BRS), during the course of last week the BDI fell by 4.5%, mainly as a result of a 5% fall of the Capesize market. “In Japan the Institute of Energy Economics for Japan (IEEJ) reported that alternative energy imports would rise significantly if local authorities kept reactors shut after routine maintenance due to safety concerns after Fukushima. According to the IEEJ, power companies would boost run rates for existing coal plants to 85%, up from current levels of 80%. This would lead to an 8.65m tone increase in coal imports for the 2012/13 year, a near 10% increase on the previous year. By May 2012, all 54 of Japan’s commercial reactors could go off line if safety fears delay their restart after regular maintenance” said BRS
Referring on the Capesize segment the report said that “a 6% slip in the BCI and a $1,400 drop in the four time charter average Fridayto-Friday confirmed there was more softening in the market, with the biggest declines in the Atlantic market where, although tonnage remains relatively tight, sentiment is falling away. That said, TA rates were still around $10,000 per day, and Braz-China is still offering $19-$20 per tonne. In the paper market, Q4 rates have now fallen to $10,900 per day, although there is some expectation of a market improvement in Q1 2012 which is now trading around $11,100” it mentioned.
On the Panamax front “in the Atlantic the overall supply of tonnage remained high over the past week, with many ballasters arriving from the Pacific. A degree of resistance has been seen from owners, leading to a relatively steady 1A index trend although overall sentiment remains bearish. The 1A index declined by an average of $55 per day (22/07/2011 – 01/08/2011), a total decline of $384. Reported fixtures were thin on the ground, and there remains little impetus for a sustained rise in rates anytime soon. In the Pacific the number of vessels ballasting towards the Atlantic provided some degree of stability to rates, however little change was seen in the past week, with 3A rates finding an apparent ‘floor’ at around $8,000 per day+. Overall activity remains fairly muted in what was a very quiet week, and this trend may continue unless we see some notable improvement in cargo volumes. On the period front, there was limited enquiry over the week, with just a few fixtures to report. The overall trend was one of further softening, and TESS 74 were getting fixed at around $11,000 for short period” said the report.
Finally, on the Supramax/Handy segment, the Baltic Supramax Index went down by 12 points to finish at 1,259 points last week, while the average of the time charter routes lost about $120 daily to finish at $13,161 per day. The market was active in the Atlantic, tonnage and cargoes remaining quite balanced. Supras ex South America fixed for trip to the Far East at rates close to $20,000 daily with equivalent ballast bonus. In the Med and Black Sea, we noticed some lack of requirement - sustained with interest for ships for few legs or short period. In the Pacific, EC India-China was fixing at rates close to $9/10,000 daily while China-India via Indonesia rated $11,000 daily. On the smaller sizes, the Baltic Handysize Index went down by 21 points to finish at 676 points with the time charter routes losing $328 to reach $9,944 daily. The TARV was worth $11,000 per day, whereas the Pacific round voyage was trading close to $8,500 daily. On the period front, a recently built 57,000 dwt fixed with delivery China for 4/6 months, redelivery worldwide, at $11,000 daily” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
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- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
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