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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, 21 September 11
2ND ANNUAL SHALE GAS SUMMIT
2nd Annual Shale Gas Summit 31 October – 3 November 2011 JW Marriott Hotel, Hong Kong
According to a recent EI ...
Tuesday, 20 September 11
MTD INAUGURATES ITS COAL TERMINAL IN JAVA ISLAND
Press Release – MTD Group of Malaysia, one of prominent key players in the development of infrastructure in Malaysia, today inaugurated their ...
Monday, 19 September 11
CHINA IMPORTS MORE THAN 10 MMT INDO COAL IN AUGUST 2011
COALspot.com - Indonesian coal exports dropped 1.642 million tons in August compared to July exports. Indonesia exports 29.662 million tons of coal ...
Monday, 19 September 11
INDOMOBIL ENTERING INTO COAL MINING BUSINESS
COALspot.Com- PT Indomobil Sukses Internasional Tbk, part of, one of Indonesia's largest conglomerates, to enter into mining industry ac ...
Sunday, 18 September 11
THE COAL IMPORTS TO INDIA, OUT OF INDONESIA LIKELY TO PICK UP - CAPT. REDDY
COALspot.com - The freight market continued the upward trend until midweek almost touching 2,000 points, however towards second half of the week the ...
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- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
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