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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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Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
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- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
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