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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, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
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- CNBM International Corporation - China
- MS Steel International - UAE
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Australian Coal Association
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- White Energy Company Limited
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
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