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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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Friday, 19 August 11
INDIA IMPORTS LESS INDONESIAN COAL THAN CHINA IN JULY
COALspot.com - Indonesia shipped 31.30 Million tons of coal in July 2011, up by 10.69 percent compared to June's export of about 28.27 ...
Thursday, 18 August 11
INDONESIAS PROPOSED LOW GRADE COAL EXPORT BAN WILL NOT HAVE A SIGNIFICANT IMPACT ON INDIA - MISWIN MAHESH
COALspot.com - The Indonesian government is currently in the process of drafting a new regulation that could ban the export of low-grade coal by Jan ...
Thursday, 18 August 11
MARUBENI ACQUIRED 42.86% OF YTL JAWA POWER
COALspot.com - Marubeni Corporation (Marubeni) has completed the acquisition of 42.86 percent of the shares of YTL Jawa Power Holdings BV from YTL P ...
Wednesday, 17 August 11
CME LAUNCHES ARGUS COKING COAL SWAP FUTURES
COALspot.com - Argus media reported that, leading exchange CME Group will list an Australian coking coal swap futures contract for trading on the Ny ...
Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
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- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
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