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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, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
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- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- The University of Queensland
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
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