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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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Tuesday, 13 September 11
CAPITAL COSTS OF INDIAN COAL MINING PROJECT - AN ANALYST VIEW
By Mr Dipesh Dipu, Director - Consulting (Mining), Deloitte Touche Tohmatsu India Private Limited
The coal mining sector that has been opened par ...
Tuesday, 13 September 11
INDONESIAS COAL SECTOR EYES 2012 BOOM - JG
The Jakarta Globe, Indonesian English language News paper reported that, Coal production is set to surge next year as coal miners bolster their busi ...
Tuesday, 13 September 11
DRY BULK RALLY MAINTAINS MOMENTUM AT START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum at the start of the week, as the industry’s benchmark, the Baltic Dry Index (BDI) was up by 2.07% ...
Monday, 12 September 11
INDONESIAN GOVERNMENT HAS ALLOCATED MORE COAL FOR 2012
COALspot.com - Indonesian government has increased the domestic market obligation allocation to 82.07 million tons of coal for 2012, which is 4 perc ...
Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
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- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Australian Coal Association
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
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