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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, 19 July 11
82 MIO TONS OF COAL TO BE SUPPLIED FOR DOMESTIC MARKET
Indonesian Coal miners were required to supply 82 million tons of coal to Domestic market in this year. This is a 2.53 percent higher than last year ...
Monday, 18 July 11
IMFA BUYS A INDONESIAN COAL MINE FOR USD 8.7 M
Indian Metals and Ferro Alloys (IMFA), the largest producer of ferro chrome in the country, today said it has acquired 70 per cent stake in an Indones ...
Sunday, 17 July 11
THE COAL PRICES ARE SOFTENING DUE TO LESS DEMAND - VISTAAR
COALspot.com: The markets were down last week with BDI down by 6.63 points and closing at 1,353 points. The most affected was Cape index which was d ...
Friday, 15 July 11
DRY BULK MARKET SUFFERS NEW BLOW, RETREATS EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell even lower yesterday on the back of lower demand for larger vessels, like Capesizes and Panamaxes. The industry’s ben ...
Friday, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
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- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Australian Coal Association
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- The University of Queensland
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- CNBM International Corporation - China
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
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