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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 $13,000 with delivery SE Asia” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
Friday, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- The University of Queensland
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Planning Commission, India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
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