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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, 02 August 11
INDONESIA BECOMES SECOND LARGEST COKING COAL EXPORTER
COALspot.com - Indonesia, the largest thermal coal exporter in the world now becomes second biggest coking coal exporter to Japan. Indonesian’ ...
Tuesday, 02 August 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK TO PRESENT LATEST TRENDS
Press Release - Global commodities prices have been staying high since the beginning of 2011, resulting in the “TENSION” in various coun ...
Tuesday, 02 August 11
REALM RESOURCES TO ACQUIRE A 75% INTEREST IN THE KATINGAN RIA COAL PROJECT
COALspot.com - Scoping study at the Katingan Ria Coal Project, Central Kalimantan demonstrates positive technical and financial potential for the pr ...
Tuesday, 02 August 11
COAL INDIA TO INVEST IN GOLDEN ENERGY MINES
COALspot.com - Golden Energy Mines, part of PT Dian Swastatika Sentosa Tbk’s, is still negotiating with several strategic investors to o ...
Sunday, 31 July 11
CAPES ARE TRADING BELOW $ 9500 PER DAY - VISTAAR
COALspot.com - The BDI further softened by 4.46 pct and closed at 1264 points which touched below 1300 points after long time. The Cape and Panamax ...
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- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- VISA Power Limited - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
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