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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 $13,000 with delivery SE Asia” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
Tuesday, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
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- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- MS Steel International - UAE
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
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