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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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Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
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- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
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