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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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Wednesday, 16 November 11
A STRONG WEEK FOR THE CAPES - BRS
A sharp bounce by the Cape market pushed the BDI up by 3% last week. This was despite a softening in the other indices with the Panamax, Supramax an ...
Monday, 14 November 11
BORL SEEKS 660K MT OF LOW SULPHUR COAL
COALspot.com - BORL India has issued a tender for around 660,000 MT of 4500 - 5500 kcal/kg sub-bituminous Coal.
Bharat Oman Refineries Ltd ...
Sunday, 13 November 11
BUNKER PRICES REMAINED FIRM
COALspot.com - The market seemed to recover this week with the BDI and Cape Index up.
The BDI was up by only about 2.86 pct closing at 1835 point ...
Saturday, 12 November 11
COALINDO ENERGY LAUNCHED INDEX FOR 3400 GAR COAL
COALspot.com - PT Coalindo Energy, in cooperation with Argus Media Limited, launched the coal index for low-rank coal with a calorific value of 3,40 ...
Saturday, 12 November 11
BBJ WILL RELEASE A COAL CONTRACT
Jakarta Futures Exchange will soon release a coal futures contracts during the quarter 1 / 2012.
Director of the Jakarta Futures Exchange (BBJ) S ...
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- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
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