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Tuesday, 09 August 11
DRY BULK MARKET UNABLE TO FIND UPWARD MOMENTUM, SLUMPS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 They same that what goes up must come down and nobody seems to have found a better application of this expression, than the beleguered dry bulk market, which has plunged to new lows yesterday, at 1,264 points, down by 0.32%, since the end of last week, when the Baltic Capesize Index (BCI) had managed to edge forward by 3%, despite all other ship segments being traded further downwards. In fact, the Panamax market was down by 2% and so was the HandySize segment of the market. in the start of the week, the Capesize market went further down to 1,793 points, a fall of 0.61% on the day, while the panamax segment was marginally lower by 0.14% to 1,476 points.
According to the latest weekly report on the dry bulk market, issued by Paris-based shipbroker Barry Rogliano Salles, “in India the country’s Supreme Court partially lifted an iron ore mining ban imposed last week in a key region of Karnataka state, allowing state-owned NMDC to mine up to 1m tonnes per month from 6 August. NMDC will start production from two of its existing mines located in the Bellary district. The Supreme Court had imposed an interim ban on July 29, citing environmental degradation. Many Indian steel companies have already been affected by the ban, with JSW Steel cutting capacity due to lack of supplies, while Tata Metaliks said it could shut its plant in Maharashtra state if supplies do not normalise” it said.
Referring to the Capesize market it mentioned that “it finally picked up this week after a month of declines. Moves by Rio Tinto to take up to 10 ships in the Pacific pushed rates up there 5%, and more cargos are expected in the coming weeks. The Atlantic was more varied, with Tubarao-Dunkirk rising 4%, but the fronthaul trade from Brazil-China barely shifted. Overall the BCI rose 3% to 1,804 points while the four time charter moved from 9,408 to 10,032 points, a rise of over 6.5%. This has not yet taken Cape operators into a safety zone however and there are still concerns over positive returns in a market with so many ships avilable. In the FFA market, there were also positive gains, with August/September and Q4 prices increasing by 5.1% and 2%. However the positive sentiment faded somewhat by the end of the week, and the BCI fell 11 points” said BRS.
On the Panamax market it mentioned that “in the Atlantic, it was a quiet week overall, with reported fixtures remaining thin on the ground. Having said this, tonnage supply remained high and rates were under pressure due to limited fresh cargoes coming into the market. The 1A index declined by $425 (29/07/2011 – 08/08/2011), reflecting a continued bearish outlook, and prospects will remain this way unless we see a notable improvement in cargo volumes. For the Pacific, despite a slight improvement in cargo volumes at the beginning of the new week, overall activity remained muted with little fresh business to be had. The impact of many ballasters sailing away towards the Atlantic in recent weeks has merely slowed down the rate of decline on the 3A index, with levels hovering above $8,000 per day. The outlook appears relatively flat for the time being, however there is some hope that improved cargo volumes will spur rates on given that open tonnage is a touch tighter than in previous weeks.
There were very few period fixtures were reported this week, with rates remaining fairly consistent from the previous week” said the report. Finally the Supramax/Handy market “has been so unpredictable during the last few weeks that we noticed little or no change. The Supra index showed a steady - 5 point difference between Monday and Friday, while the Handies saw an insignificant drop of -1. We noted some grains, scrap and fertilizer cargoes out of the continent to Med, East Med and ECSA respectively. Handies were fixed at about $11,000 for trips from the Continent to North Africa, and about $14,000 to East.
Handymax saw slightly higher figures of about $15-16,000 for trips from continent to east Med/Black Sea range. The US Gulf maintained a steady flow with very firm rates. Supramax went at about $28,000 per day pro for trips to East Med and slightly higher figures of about $32,000 per day for Far East destinations. Handymax went for about $23,000 for trips to East Med. We saw more grain cargoes out of the Black Sea but this has still not yet had an impact on the market as Handymax went for about $10,000 per day for a trip from Emed to west Africa.
The south Atlantic market showed stronger numbers on the fronthaul as Handies went for about $17,000 Brazil-Far East voyages while Supras went at about $18,000 for trips via west Africa to Far East. The Far East market maintained a steady flow as Supras went at about $13,000 for China-Indo trips and about $12,000 for ships delivered in India trip via South Africa to China” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 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 ...
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 i ...
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- Mercator Lines Limited - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Australian Coal Association
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
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