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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, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
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- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Planning Commission, India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Australian Coal Association
- MS Steel International - UAE
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
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