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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, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
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- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- The University of Queensland
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
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