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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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Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
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- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- The University of Queensland
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Planning Commission, India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
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