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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, 09 August 11
DRY BULK MARKET UNABLE TO FIND UPWARD MOMENTUM, SLUMPS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
They same that what goes up must come down and nobody seems to have found a better application of this expression, than the beleguered dry bulk mark ...
Monday, 08 August 11
OIL PRICES ARE SOFTENING, WILL IT INFLUENCE COAL PRICES?
COALspot.com - The current global economic condition is in volatility after a little chance of optimism for economic recovery.
Oil price at ...
Monday, 08 August 11
A SUPRAMAX VESSEL WAS REPORTED FIXED AT $ 12K - VISTAAR
COALspot.com - The BDI was slightly up by about 4 points closed at 1268 points which was supported by cape index which was up 3.14 pct and closed at ...
Saturday, 06 August 11
NTPC IS CONSIDERING TO ENTER INTO 25 YEARS COAL PURCHASE AGREEMENT
Indian, State-run power producer NTPC's present annual consumption is 164 million tonnes, and company is considering long-term agreements abroad to ...
Friday, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
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- Marubeni Corporation - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- The University of Queensland
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- VISA Power Limited - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
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