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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, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Aver ...
Thursday, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured e ...
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- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Planning Commission, India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- White Energy Company Limited
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
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