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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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Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
Tuesday, 09 August 11
INDONESIAS COAL PRODUCTION GREW BY 19.4% LAST YEAR - BP
COALspot.com - Indonesia’s coal production grew by 19.4% last year to 305.879 million tonnes from 256.181 million tonnes in 2009, the fastest ...
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- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Planning Commission, India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
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