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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 $13,000 with delivery SE Asia” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
Thursday, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
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- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Minerals Council of Australia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
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