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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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Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
Tuesday, 18 October 11
INDONESIAN PRESIDENT APPOINTS JERO WACIK AS NEW MINISTER OF ENERGY & MINERAL RESOURCES
COALspot.com - Jero Wacik has been appointed as minister of energy and mineral resources of Indonesia replacing Darwin Saleh and Prof. Widjajono Par ...
Tuesday, 18 October 11
DELTA DUNIA MAKMUR HAS PRODUCED 3.0 MILLION TONS OF COAL LAST MONTH
COALspot.com - PT. Delta Dunia Makmur, wholly owned subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), Delta Dunia Makmur has removed 1.4 million bcm ...
Monday, 17 October 11
KOWEPO TO BUY 260,000 MT BITUMINOUS COAL
COALspot.com - KOWEPO has issued a spot tender for 260,000MT of minimum 5,600kcal/kg NAR Bituminous Coal.
The tender document also mentioned tha ...
Monday, 17 October 11
CAPESIZE SHIPPING COSTS CLIMB TO 10-MONTH HIGH ON ORE IMPORTS
The cost to hire capesize vessels climbed to a 10-month high as rising imports of iron ore to China boosted demand for the ships.Monthly iron-ore sh ...
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- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Planning Commission, India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
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