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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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Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 m ...
Tuesday, 21 June 11
SURGE IN PRODUCTION AND PRICES TO PUSH BUKIT ASAMS NET PROFITS ABOVE RP 3T - THE JAKARTA GLOBE
State-owned coal company Perusahaan Tambang Batubara Bukit Asam expects its net income to increase about 50 percent this year on the back of rising ...
Tuesday, 21 June 11
COURT BATTLE PUTS MASSIVE COAL PROJECT IN JEOPARDY - KOREA JOONGANG DAILY
As Korean companies race to exploit Indonesia’s abundant natural resources, two companies have been locked in a court case that has become so ...
Tuesday, 21 June 11
DRY BULK MARKET TURNS RED AGAIN ON VESSEL OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk entered this week on a negative turn, with the industry’s benchmark the Baltic Dry Index (BDI) retreating by 0.35% to end the ses ...
Monday, 20 June 11
KPCL SETS ALL INDIA & POSSIBLY A WORLD RECORD FOR COAL DISCHARGING
COALspot.com - Krishnapatnam Port has set an all India record for discharging 95,528 tons of steam coal in just 24 hrs using the conventional unload ...
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- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Planning Commission, India
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
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