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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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Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
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- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- The University of Queensland
- Borneo Indobara - Indonesia
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