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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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Saturday, 12 November 11
BBJ WILL RELEASE A COAL CONTRACT
Jakarta Futures Exchange will soon release a coal futures contracts during the quarter 1 / 2012.
Director of the Jakarta Futures Exchange (BBJ) S ...
Saturday, 12 November 11
DRY BULK MARKET REGAINS SOME OF THE LOST GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which ha ...
Friday, 11 November 11
PETROCOM ENERGY PLANS $40M TO BUILD COAL PLANT IN CILEGON - JP
The Jakarta Post reported that, Hong Kong-based Petrocom Energy Ltd has unveiled plans to invest up to US$40 million on a proposed coal-blending fac ...
Friday, 11 November 11
GOVT WAITS LEGAL DECISION ON BUKIT ASAM, ADARO DISPUTE - JP
The Jakarta Post reported that, The government says that it will not interfere in the settlement process of the dispute between state coal miner PT ...
Thursday, 10 November 11
INDONESIAN REFERENCE COAL PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the November 2011 Indonesian Coal Reference Price for thermal coal at U ...
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- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Australian Coal Association
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- The University of Queensland
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
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