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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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Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
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- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
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