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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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Monday, 20 June 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2011 IS ON THE WAY
Press Release - Since the beginning of 2011, international commodity price has been in a high level, resulting in “TENSION” of energy co ...
Sunday, 19 June 11
S6 AND S7 ROUTES LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market seemed to be stabilizing and the BDI and Cape index was up marginally and closed at 1,423 points and 1,824 points ...
Sunday, 19 June 11
BUMI 1Q NET PROFIT INCREASES 16.5 PERCENT
PT Bumi Resources Tbk (BUMI), Indonesia's largest coal exporter that is 25% owned by London-listed Vallar Plc, reported a16.49% increase in net pro ...
Friday, 17 June 11
DRY BULK BREATHES SIGH OF RELEAF ON RENEWED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has caught a sign of relief from the middle of the week onwards, as the BDI (Baltic Dry Index) increased once again yesterday, t ...
Thursday, 16 June 11
BOOSTING THE USE OF LOW CARBON ENERGY FOR A BETTER WORLD
Bali, Indonesia host of world renewable energy congress – Indonesia, international conference & exhibition on renewable energy and energy ...
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- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
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