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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 $13,000 with delivery SE Asia” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
Wednesday, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
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- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- GMR Energy Limited - India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- The University of Queensland
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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