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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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Thursday, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
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- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
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