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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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Friday, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
Thursday, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
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- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
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