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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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Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
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- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Australian Coal Association
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- PTC India Limited - India
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
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