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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, 06 October 11
REALM SECURES 51% OF KATINGAN RIA COAL PROJECT IN CENTRAL KALIMANTAN
•Realm secures 51% of PT Katingan Ria Thermal Coal Project in Central Kalimantan
•Realm takes ownership of Kalres Limited
•Acquisit ...
Thursday, 06 October 11
SOUTH EAST ASIAS AGGRESSIVE POWER DEMAND GROWTH WILL REQUIRE INVESTMENT OF US$125 BN BY 2020 - WOOD MACKENZIE
COALspot.com - Wood Mackenzie says that South East Asia’s demand growth for new power generation is so aggressive that new power generation in ...
Thursday, 06 October 11
CHINESE DEMAND FOR COAL IMPORTS TO MODERATE IN 2012 - MISWIN MAHESH
COALspot.com - We expect Chinese demand growth for imported steam coal to moderate over the next year. Steam coal imports into China will modera ...
Wednesday, 05 October 11
MINISTRY STICKING TO RAW COMMODITY EXPORT BAN DESPITE INDUSTRY FEARS - JG
The Jakarta Globe, the one of the leading English news paper in Indonesia, reported that, the details of a controversial new regulation that would b ...
Wednesday, 05 October 11
ATLANTIC AND PACIFIC BASINS BECAME TIGHTER FOR PANAMAX LAST WEEK - BRS
A slump for both the Capes and Panamaxes sent the BDI down 1% this week, falling to 1,899 points.
The Capes saw the greatest movement, sliding - ...
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- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Australian Coal Association
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
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