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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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Saturday, 12 November 11
DRY BULK MARKET REGAINS SOME OF THE LOST GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which ha ...
Friday, 11 November 11
PETROCOM ENERGY PLANS $40M TO BUILD COAL PLANT IN CILEGON - JP
The Jakarta Post reported that, Hong Kong-based Petrocom Energy Ltd has unveiled plans to invest up to US$40 million on a proposed coal-blending fac ...
Friday, 11 November 11
GOVT WAITS LEGAL DECISION ON BUKIT ASAM, ADARO DISPUTE - JP
The Jakarta Post reported that, The government says that it will not interfere in the settlement process of the dispute between state coal miner PT ...
Thursday, 10 November 11
INDONESIAN REFERENCE COAL PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the November 2011 Indonesian Coal Reference Price for thermal coal at U ...
Tuesday, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
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- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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