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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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Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
Tuesday, 06 September 11
INDONESIAS PROPOSED COAL EXPORT BAN MAY HAVE IMPACT ON THE INDIAN POWER SECTOR - DIPESH DIPU
COALspot.com - This is a special interview about Indonesian proposed coal export ban by 2014, with Mr. Dipesh Dipu, Director of Deloitte Touche Tohm ...
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- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
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- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
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