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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, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
Wednesday, 16 November 11
A STRONG WEEK FOR THE CAPES - BRS
A sharp bounce by the Cape market pushed the BDI up by 3% last week. This was despite a softening in the other indices with the Panamax, Supramax an ...
Monday, 14 November 11
BORL SEEKS 660K MT OF LOW SULPHUR COAL
COALspot.com - BORL India has issued a tender for around 660,000 MT of 4500 - 5500 kcal/kg sub-bituminous Coal.
Bharat Oman Refineries Ltd ...
Sunday, 13 November 11
BUNKER PRICES REMAINED FIRM
COALspot.com - The market seemed to recover this week with the BDI and Cape Index up.
The BDI was up by only about 2.86 pct closing at 1835 point ...
Saturday, 12 November 11
COALINDO ENERGY LAUNCHED INDEX FOR 3400 GAR COAL
COALspot.com - PT Coalindo Energy, in cooperation with Argus Media Limited, launched the coal index for low-rank coal with a calorific value of 3,40 ...
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- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
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