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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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Friday, 23 September 11
ICMA TO BUILD UPGRADE FACILITIES TO ANTICIPATE BAN ON LOW-GRADE COAL EXPORT BY 2014
COALspot.com - January to August of this year, Indonesia’s coal production had already reached 235 million tons. Earlier estimates had targete ...
Friday, 23 September 11
UT TO PRODUCE 7 MMT OF COAL BY 2012
PT United Tractors Tbk is targeting a 7 million tons of coal production next year, a 55.55% increase from 4.5 millions targeted this year, said Pres ...
Friday, 23 September 11
RECORD RECYCLING ACTIVITY STIRS OPTIMISM IN DRY BULK SAYS BIMCOS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected at the start of the year, dry bulk ship owners were expected to flock scrapyards around the world, in order to take advantage of attract ...
Friday, 23 September 11
PANAMAX EXPERIENCED A SOFTENING IN RATES - FEARNLEYS AS
Handy
Still a good boost of fresh cargoes entering the market. Vessels in Black Sea with GOA clearance and Baltic positions are fetching tick abov ...
Wednesday, 21 September 11
INDIA'S COAL IMPORTS FROM INDONESIA FALL, CHINA BUYS MORE
COALspot.com - Indian coal imports from Indonesia fall to below 6 million tons in August, and this fall was continuing last few months. Ho ...
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- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- PTC India Limited - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
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