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