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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, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
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- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Planning Commission, India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- MS Steel International - UAE
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
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