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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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Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
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- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
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