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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 $11,000 daily” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
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- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- The University of Queensland
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Australian Coal Association
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
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