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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 $13,000 with delivery SE Asia” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
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- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
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