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Tuesday, 20 September 11
DRY BULK MARKET LOSING ITS EDGE, RETREATING AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 After a surge during the past couple of weeks, which saw Capesize earnings boosted and the BDI (Baltic Dry Index) reaching levels of year high and close to 2,000 points, it seems that the signal was given late last week and early this week for a swift retreat. Yesterday, the BDI, the dry bulk market’s benchmark was down by 2.76% to 1,764 points, hot on the heels of last Friday’s fall. The biggest fall was recorded in the Capesize segment, with the Baltic Capesize Index (BCI) losing 5.35% to end at 2,847 points. The Panamax market meanwhile was also down, but by a far less aggressive 0.69% to 1,734 (Baltic Panamax Index).
According to the latest weekly report from Paris-based shipbroker Barry Rogliano Salles (BRS), “bulk rates continued to rise in the early part of last week but a sharp correction on Friday saw all sizes lose points, most notably in the Cape segment which fell nearly 260 points. The drop ended seven consecutive week-on-week gains for the Capes. Overall the BDI finished the week at 1,814 points, a 1% drop on last week, while the BCI and BHI were also in the red, finishing at 3,008 points (-5.6%) and 677 (-0.9%) respectively. The Panamaxes and Supras showed gains however rising to 1,746 points (+3.6%) and 1,446 points (+3.2%). In the newbuilding market, we note a sharp slowdown in ordering activity this year, with just 32m deadweight of dry bulk tonnage placed, around half the amount contracted at this stage last year. Orders continue to tick over, due in part to the relatively low newbuild prices on offer, with one Chinese yard offering a rumoured $30m for a kamasarmax. However, the head of Jiangsu-based New Century Shipbuilding claimed this week such low prices would only be available for another 6 months or so as yards would soon be forced to refuse ‘at cost’ business” said BRS.
Commenting on the Capesize market it said that “despite a good start to the week, Capesize rates showed a sharp decline by Friday, with the market posting its first weekly fall in 7 weeks. Again the Atlantic showed greater firmness, losing around 4% on the main routes, while Aus-China and Bra-China saw declines around 6-7%. It was a mixed bag of news for the market, with the mining companies taking plenty of tonnage in the Pacific. However paper prices started to drop as early as Wednesday which appeared to have a knock-on effect on the physical. After trading at $23,700 last Friday, October FFA prices have now dropped to $19,200 per day and November to around $16,500. On Monday the BCI dropped another 160 points and the 4TC was recorded at just over $23,000.
Regarding the Panamax market, the shipbroker’s report said that it increased overall by $500 per day on the 4TC average. “This positive trend mainly came from the Atlantic basin where the USG grain fronthaul cargoes started to be marketed, leading to a decrease in the open tonnage position (although still important); the fronthaul route gained $1,000 per day to close at $22,500 per day. The TA round activity was however quieter with ships fixing in the low $14,000s per day. In the Pacific the market kept stable at very close to $14,000 for the Nopac round and the number of ships decreased in the area. Out of India, the monsoon will be over within 2 weeks which should lead to an increase in iron ore exports. The Goa/China route was paying $14 pmt, 50 cents better than a week ago. On the short period front, the numbers were topping during the week and PMX LME were fixed at around mid $14,500 per day, $500 below that a week ago” said the shipbroker.
It went on to mention that “Supramaxes were well in demand except in India where rains were still ongoing. The Monsoon is expected to end during the next few weeks which might result in more activity there as well. But owners can hardly complain about other regions. The East has been quite active after the holidays in the beginning of the week. Mid/high teens are achievable for an index Supramax for Indonesia/India coal business. We shall see if that remains the case, should fixing activity in India really increase. USG/China rates are now hovering around low $32/33,000s for bigger units while a TESS 52’ is still worth around $20,000 for a trip out with delivery West Africa.
The Handysize segment shows a mixed picture with not much good news for owners in the Atlantic. A lack of sugar cargoes caused rates to continue to decline in ECSA. A modern 28,000 dwt is now fixable in the low teens aps Brazil to Skaw/Passero. Even worse news emerged from the USG where two relatively modern 28,000 dwt vessels were reportedly fixed at below $10,000 aps for trips within the Atlantic. All the while, in the Far East demand supported higher rates and much more period interest as well. Modern 32,000 dwt vessels are being negotiated for short period around $13,000 with delivery SE Asia” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
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- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Planning Commission, India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- The University of Queensland
- Chamber of Mines of South Africa
- Parliament of New Zealand
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Posco Energy - South Korea
- PTC India Limited - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
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