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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, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
Wednesday, 20 July 11
DRY BULK MARKET KEEPS ON FALLING ON SOFTENING CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated to lower ground on Tuesday, as the industry’s benchmark, the BDI (Baltic Dry Index) fell to 1,330 points, down b ...
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- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- MS Steel International - UAE
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
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