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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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Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
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- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
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