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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, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
Wednesday, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
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- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Australian Coal Association
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- MS Steel International - UAE
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
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