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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, 06 September 11
SEMEN GRESIK TO ACQUIRE COAL MINE FOR RP. 1 TRILLION
COALspot.com - PT Semen Gresik Tbk (SMGR) is planning to acquire a low calorific value coal concession (IUP). According to Semen Gresik, the coal mi ...
Tuesday, 06 September 11
DRY BULK MARKETS RALLY POWERS THROUGH TO NEW WEEK, BUT A CORRECTION COULD BE OVERDUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s freights rates kept leaping forwards during the beginning of the week, with the industry’s benchmark, the Baltic D ...
Monday, 05 September 11
TNPL POSTPONES BID OPENING UNTIL 12 SEPTEMBER 2011
COALspot.com - TNPL has postponed submission of the offer until 12 September 2011 on request from the supplier, an Indian trader said.
Due to Ram ...
Monday, 05 September 11
INDONESIAN COAL BENCHMARK PRICE - ANALYSIS
Analyst : Sunil K Kumbhat
COALspot.com - As a part of the Government’s efforts to stop transfer pricing abuses which have resulted in the los ...
Saturday, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
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- PTC India Limited - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
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