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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, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
Monday, 22 August 11
NTPC TO IMPORT 16 MILLION TON OF COAL TO BRIDGE THE GAP
COALspot.com - NTPC to import 16 million tons of imported coal, which is equivalent to 23-24 million tons of Indian coal to bridge the gap.
" ...
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- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Parliament of New Zealand
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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