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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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Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
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- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Bangladesh Power Developement Board
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