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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, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
Tuesday, 27 September 11
A STRONG REBOUND FOR THE CAPE MARKET - BRS
A strong rebound for the Cape market, as cargoes continued to flow into the market and tonnage remained tight in the Atlantic, according to Barry Ro ...
Tuesday, 27 September 11
INTRACO SEALS US$25.3 MIO ORDER - INSIDER STORIES
Insider Stories reported that, Heavy equipment distributor PT Intraco Penta Tbk (INTA) obtained a US$25.3 million order on hand of heavy equipments ...
Sunday, 25 September 11
THE CHARTER RATES FOR INDONESIA TO INDIA WAS FIRM - VISTAAR
COALspot.com - The freight market moved up sharply with the cape Index up by 11 pct pushing the BDI by almost 6 pct and closing at 1,920 point ...
Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those wi ...
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- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- The University of Queensland
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
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