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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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- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- The University of Queensland
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
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