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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, 02 June 11
LARGE SUPRAS FOR RBCT/INDIA ROUND ARE NOW ASKING 14K - FEARNBULK
Handy
The Handy/Supra market has in general been flat and un-exciting this week. The Black Sea market is almost non existing while the US Gulf mar ...
Thursday, 02 June 11
DRY BULK SHIP OWNERS LOOKING INTO SHORTENED WEEK WITH ANXIETY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most markets in the western world closed yesterday, as a result of Memorial Day, dry bulk stakeholders weren’t able to build over the pos ...
Monday, 30 May 11
MIANG BESAR COAL TERMINAL ON TARGET
COALspot.com - MBCT, to be largest coal terminal in Asia to start construction in Indonesia’s east Kalimantan Island in July 2011 says Mr. Joh ...
Sunday, 29 May 11
THE FREIGHT MARKET CONTINUED TO GAIN MOMENTUM - VISTAAR
COALspot.com - The freight market continued to gain momentum and the BDI, Cape Index and Panamax was by up almost 10-12 pct and on all sectors, Vist ...
Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
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- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Minerals Council of Australia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
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