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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 $30,000s while Handysize rates have come down to mid/high teens for trips to Skaw/Passero range” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
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- Economic Council, Georgia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
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