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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, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
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- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Parliament of New Zealand
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
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