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Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the BDI (Baltic Dry Index) was down by 1.11% to 1,874 points, with Capesize leading the way. The Baltic Capesize Index (BCI) was down by 1.45% to 3,188 points, but smaller vessels fared better. The Panamax market was up by 0.49% to 1,840 points, while the Supramax market increased by 0.14% to 1,383 points.
According to the latest weekly report from Paris-based shipbroker Barry Rogliano Salles (BRS), there were positive gains for most of the segments this week, the exception being the Handysizes. A mixed bag of trade news this week: India reported a sharp increase in coal imports for the period April/Oct, up 50% against the previous year, after shortages in the
domestic market pushed up imports. The same could not be said of iron ore exports, with India reporting a 25% drop in exports in the same period (Apr/Oct). In China, coal imports fell to 15.7m tonnes in October from the country’s record high of 19m tonnes in September following the build up of large stockpiles by power plants. However the country’s iron ore imports are currently on track to be +10% higher than last year, with 560m tonnes imported Jan-October” said the shipbroker.
Referring to the Capesize market, BRS noted that it was a “surprisingly strong week for the Capes, driven almost exclusively in the early part of the week by the fronthaul trade which saw a gain of around 8%, with rates firmly over $28 pmt. The end of the week also saw a surge in miner activity out of Australia, and Pacific rates represented this on Monday. The Atlantic was less active, and rates remained flat or dropped. Overall the BCI rose nearly 3%, while the four time charter average rose 4% to $28,340. In the FFA market, quotes for Nov/Dec remain fairly firm, averaging $23,537 per day. However the market is predicting a quick decline in rates in the New Year, with January trading at just $15,042” said the report.
Meanwhile, on the Panamax front, “the Atlantic market ended the week on a far more balanced note. Increased cargo volume out of USEC and USG provided much needed support and stimulus to a market which recently recorded a fortnight of steady declines in the face of growing tonnage supply and limited prompt business. The 1A index recorded a gain of $578 over the course of the week to close on 18th November at $16,647 per day. There are signs of continuing tightening in tonnage supply although a degree of caution should be exercised as any sustained rise in rates will be dependent on their further fresh business entering the market. Fronthaul business out of the Gulf followed a similar pattern, pushing by $1,151 in the latter half of the week. Overall sentiment proved more resilient than in preceding weeks, although again a degree of caution should be exercised in light of the slow start to the new week beginning 21st November. The Pacific market recorded a steady rise over the week, with the 3A index pushing up by $592 to close at $12,197.
Despite improved sentiment however, this needs to be considered in light of a growing supply of prompt tonnage which may place a brake on any sustained rise in the coming days. Reportedly high stockpiles of coal and iron ore at major Chinese ports could imply that recent demand from industrial end users has been driven primarily by a desire to exploit recent declines in the prices of these commodities rather than reflecting strong underlying fundamentals. The short period market for 4/6 months ended the week at around $13,750-$14,000 per day, whilst one year rates ended the week flat at around $13,500 per day” mentioned BRS.
Finally, on the Supramax/Handysize segment of the market, the shipbroker said that its bottoming in the East has prompted numerous Charterers to come out with period enquiries. “Larger Supras got fixed at middish/high $11,000 for short period with delivery China. Some more coal orders have caused the market to at least stabilize, even if at a low level. The average Pacific round voyage rate is now hovering around $8,000/8,500 for a Tess 52. Recently the notion is spreading that also the numbers of handysize orders are on the rise there. An Imabari 28 type should be worth now around $6,500 for an average Pacific trip.
In India there have been a few more iron ore orders seen in the market but in general the market is highly unattractive for Owners. Therefore Charterers with business destined to this area have to dig very deep into their pocket. Supras are now being fixed in excess of $30,000 dely Med for trip to PMO/ India range. Modern Handies can not be fixed below high teens basis dely Skaw/Passero to Suez/Japan range. In ECSA the rates have softened. Supras open West Africa do not get more than $20,000 anymore for outbound trips via ECSA. In the USG Supras can still demand low/mid $30,000s while Handysize rates have come down to mid/high teens for trips to Skaw/Passero range” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
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- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
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