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Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffering the main losses. The Baltic Capesize Index (BPI) was down by 1.51% yesterday, ending the session at 3,268 points. By contrast, the Panamax segment fared much better, rising by 1.02% to reach 1,681 points.
According to the latest weekly report from shipbroker Fearnley’s, “a psychological barrier seems to kick in every time spot levels for the capesize segment climb close to usd 30k. A robust strengthening on high volume is turning into a soft slide as activity cools down and nervousness spread. Despite last few days´ developments, average daily earnings are still up 12% w-o-w at usd 28k, and fundamental parametres still appear robust for transatlantic and pacific trades. Period activity has been fair on the back of paper support - most recently exemplified by 2 x 206kdwt newcastlemax NBs delivering Feb+April 2012 for about 4 years to major energy producers at usd 18k, 175kdwt/built 2010 delivering Japan early Oct done for 4-6 months at usd 19k and also 176kdwt/built 2010 delivering N.China early Oct for 4-6 months at usd 18k” said Fearnley’s.
In a separate report, commenting on the Capesize market, Piraeus-based shipbroker Shiptrade Services said that “the Atlantic market was relatively active, especially for prompt positions. Rates increased significantly, and at week’s closing fixtures reported at USD 33.000 per day Transatlantic round, while on the Front haul trade, fixtures reported at USD 50.000 per day. On the Tubarao/Qingdao trade, levels followed the same trend, and eventually concluded at USD 27.00pmt. Activity in the Pacific basin was even stronger than in the Atlantic. Cargo volume increased as new cargoes emerged from S.Africa, and India, but rates for pacific round voyage remained at same levels, i.e USD 24.000 per day. On the Australia/China trade, the iron ore majors covered about 15 vessels at levels close to USD 11.50pmt” said Shiptrade.
Meanwhile, according to Fearnley’s “the Panamax market started this week on a quiet note with only USG fronthaul giving some fuel to the levels. In the Atlantic the market is firming up, tighter with tonnage and some fresh minerals and grains requirements entering the market. TA rounds are now fetching ard usd 14,500 while some claim to have seen usd 16k for the shorter Baltic rounds. The fronthauls closer to mid 20´s with additional premium for shorter trips via Aden. In the Pacific activity is slowing down in all areas. Some analysts warn that China ´s emergency coal reserve provision is too small, and they might pick up the pase they had earlier on Indonesian coal. Mid week the Pac rounds are being fixed at ard usd 11k while the backhauls are getting ard usd 4,500. The period market has shown some activity with a few short period fixtures in the mid 12k range. With the coming holidays in China activity and levels could suffer next week” mentioned the shipbroker.
Shiptrade’s comment on the Panamax market was that there were not many fresh enquiries, combined with prompt tonnage building up, and rates sliding. “In the Atlantic basin we saw plenty of fixtures but rates didn’t manage to increase, as there were not so many fresh enquiries, especially for Transatlantic round. At week’s closing, rates for Transatlantic round concluded at USD 14.000 per day, while on the Front haul trade rates declined at USD 24.000 per day, with the majority of cargoes coming from USG. Pacific remained a bit quiet with not many enquiries in the market, and many prompt vessels looking for suitable cargoes. Rates declined, and at week’s closing, rates for Pacific round concluded around USD 11.000 – 11.500per day basis N.China delivery, or close to USD 13.000per day basis S.China – S.E.Asia delivery. Rates for trips Ex NOPAC concluded at levels around USD 10.500 – 11.500per day basis N.china/Japan range for BPI type vessel (M/V Eleftheria 76.134/01’), concluded Shiptrade.
Yesterday, Commodore Research & Consultancy issued an update on the state of coal stockpiles at the port of Qinhuangdao, China’s largest coal port, which have come under a large amount of pressure as we have anticipated. “At present, stockpiles stand at approximately 5.1 million tons, 2.2mt (-30%) less than at the start of the month. The stockpiles have come under a large amount of pressure as maintenance to China’s coal dedicated Daqin Railway (which stretches from coal-rich western China to Qinhuangdao) has coincided with robust demand for thermal coal and electricity On Tuesday September 20th, coal stockpiles at Qinhuangdao stood about 7.1mt. Maintenance to the Daqin Railway, which began on Wednesday September 21st, has resulted in the line being down for approximately 3 hours each day. The 12-day period of maintenance is scheduled to end on Monday October 3rd. Going forward, we expect that the Daqin Railway will transport 30-33mt of coal in September, which would be moderately lower than the 36.94mt of coal that was transported in August. We anticipate Qinhuangdao coal stockpiles will remain below 7mt during at least the next two weeks, which is likely to lead to a continued increase in Chinese thermal coal fixtures (Chinese thermal coal fixtures have already begun to increase this week). Regional thermal coal import prices also remain very attractive compared with Chinese domestic thermal coal prices” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
Friday, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
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- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- White Energy Company Limited
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
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