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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, 14 August 11
SUPRAMAX CHARTER RATES SHARPLY UP - CAPT.REDDY
COALspot.com - The BDI ended positive with gains in Cape and Panamax index. The BDI was up by 1.50 pct and the cape and panamax index was up by almo ...
Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agre ...
Friday, 12 August 11
COAL MINERS WILL ALLOW TO CONSTRUCT MINE MOUTH POWER PLANT
COALspot.com - The government is set to draft a regulation to enable construction of steam-fired power plants (PLTU) by coal mining companies for th ...
Friday, 12 August 11
CAPESIZE DEMAND HELPS LIFTING OF DRY BULK MARKET - HELLENIC SHIPPING NEWS
The dry bulk market has recovered a small fraction of its lost ground this week, with higher returns as a result of increased capesize demand. This ...
Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
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- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Planning Commission, India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
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