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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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Sunday, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session u ...
Sunday, 10 July 11
INDONESIAN BAYAN RESOURCES TO SUPPLY 100 MILLION TONS OF COAL TO INDIAN UNIVERSAL SUCCESS ENTERPRISES LIMITED
Coal miner PT Bayan Resources Tbk (BYAN), that is owned by Dato' Low Tuck Kwong, has entered into a conditional sales and purchase agreement to sup ...
Thursday, 07 July 11
BELOW 5100 COAL WILL BE BANNED FOR EXPORT BY 12 JANUARY 2014
COALspot.com - Indonesian government is in the process of drafting an amendment for government regulation 23/ 2010.
GR 23/2010 has issued to sup ...
Wednesday, 06 July 11
ATLAS RESOURCES TO OFFLOAD 17 PERCENT IPO - INSIDER STORIES
Coking and thermal coal miner PT Atlas Energi Resources aims to offload 17percent new shares of its enlarged capital after Eid-Fitri holidays, as qu ...
Tuesday, 05 July 11
UNTR REVISES UP SALES TO 7,500 UNITS - INSIDER STORIES
PT United Tractors Tbk (UNTR), distributor of Komatsu heavy equipment and parent of PT Pamapersada Nusantara, has revised up its equipment sales tar ...
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- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Minerals Council of Australia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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