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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, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
Saturday, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
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- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- White Energy Company Limited
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
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