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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 $13,000 with delivery SE Asia” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
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- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Australian Coal Association
- Planning Commission, India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
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