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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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Tuesday, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
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- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Planning Commission, India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- The University of Queensland
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
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