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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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Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
Monday, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
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- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
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