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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 $12,000 for ships delivered in India trip via South Africa to China” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 29 June 11
ANOTHER STRONG PERFORMANCE BY CAPESIZE - BRS
Another strong performance by the Capesize market this week, bringing the BCI up 8% to 1,974 points. However the Panamax market was penalised, losin ...
Monday, 27 June 11
THE IRON ORE IMPORTS BY CHINA SEEMED TO SLOW DOWN - VISTAAR
COALspot.com - The BDI was holding as previous week and was just up by 1 point and closed at 1424 points end of last week. The biggest gain was ...
Friday, 24 June 11
THE INDONESIAN GOVERNMENT WILL NOT EXTEND ALL EXPIRED MINING CONTRACTS - JAKARTA UPDATES
The Indonesian Government have decided not to extend all mining concessions under the scheme called Contract of Work and instead will take over the ...
Friday, 24 June 11
BERAU EYEING 70 PERCENT GROWTH IN EBITDA
Indonesia's coal producer PT Berau Coal Energy Tbk (BRAU) is eyeing a 60 -70 percent growth in EBITDA to US$ 560 million-US$595 million this year. ...
Thursday, 23 June 11
DRY BULK MARKET KEEPS EXHIBITING SIGNS OF WEAKNESS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to climb at new highs this week, showing signs of weakness, across most ship types. Yesterday, the Baltic Dry ...
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- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Australian Coal Association
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
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