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Tuesday, 07 February 12
DRY BULK MARKET FINALLY STOPS DECLINE, POSTS FIRST RISE IN MORE THAN A MONTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 After falling to near record lows, not seen since the mid-80s the dry bulk market has finally stopped its path to "hell", with the industry's benchmark, the Baltic Dry Index (BDI) managing to post its first increase in weeks. The BDI ended yesterday's session at 648 points, still near record lows, but at least 0.15% higher than Friday's closing. The market's rebound was primarily fuelled by the Panamax segment, with the relative index gaining 4.76% on the day and increasing to 726 points, which still is incredibly low. Capesizes were able to post mild gains of 0.14% to 1,438 points, but smaller sizes still suffered. Handysizes remain in deadlock, losing an additional 1.83% to just 375 points, while Supramaxes also suffer, ending yesterday’s session down by 1.32% to 600 points.
According to the latest weekly report from Barry Rogliano Salles (BRS), “it was another week of heavy losses in all dry bulk segments, but there were some signs of a reversal in the Cape market. The BDI reached 647 points, illustrating a decline of about 11% w-o-w. The BCI lost just 2% to 1,436 while the BPI lost a remarkable 15% to finish on Friday at 693. The BSI and the BHSI declined 12.5% and 10% w-o-w, reaching 608 and 382 at the end of this week respectively. The BCI showed a slight uptick on Monday, however, the first for a month, while the BPI also rose 33 points” said BRS.
Commenting on the Capesize sector, the Paris-based shipbroker said that “there were signs last week rates might finally have bottomed for the Capes, with the decline in rates slowing, and Tubarao -Qingdao showing even a small 1% uptick to $19.45. Hedland-Qingdao softened slightly however, while in the Atlantic there was very little activity on which to gauge rates. The end of the Chinese holidays did not seem to result in a sudden increase in activity, however there was talk of more Chinese buying next week. Meanwhile there were reports of a period deal for 5-7 months at $12,000 per day for a 160,000 dwt vessel. Overall the Capesize 4TC ended the week at $5,251, 6% down on the week before but only equivalent to a loss of $315. Meanwhile Monday saw the BCI rise 2 points, halting 30 days of consecutive declines” said BRS.
Meanwhile, on the Panamax front, “further declines were recorded in both Atlantic and Pacific basins last week. Limited fresh business was reported in what continued to be a market characterized by underlying bearish sentiment. Demand fundamentals in Europe remain muted, with coal demand being subdued by a relatively mild winter period thus far. The macro-economic outlook in the EU also appears downbeat, with little to suggest any imminent upturn. The 1A index declined a further $1049, settling at $4619 on 03/02/2012 (down from $15,500 on 01/01/2012). Front haul rates fared no better, with 2A index falling $1316, from $15,740 to $14,424. The limited volume of fresh business, along with plentiful supply of ballasters arriving from the East continued to weigh down on rates. In the Pacific, stockpiles of both iron ore and coal remained high at major Chinese ports, and with little in the way of fresh business post-Lunar New Year, rates also fell away (down $430 w-o-w). The one positive note at the end of the week however was a small rise in the 3A index, perhaps signifying a more balanced market heading into the new week” mentioned the shipbroker’s report.
Finally, on the Supramax/Handy markets, “they were still feeling the holiday fever last week even though the Far Easterners were back in their offices. The Atlantic also maintained a downward trend, while there was still no improvement in the numbers witnessed in the Far East. This was obviously expressed by a $1,000 decline on the average Supra TC routes last week and about -$500 on the average Handy routes. Supras went for barely $10,000 per day pro for US Gulf-East Med trips and about $6,000 per day pro for US Gulf–North American round voyages. Continent–E Med voyages followed with lower levels of about $8,500 per day pro due to the lack of cargoes in the Continent. ECSA managed with better figures than the US Gulf as we noticed fixtures at about $12,000 daily for trips to West Africa. The Far East maintained low rates as India–China trips went at about $5,500.
The Handy and Handymax were not left out, even though the Handies saw better rates of about $12,000 for ECSA-N Africa trips. Handymax saw poor rates of about $8,000 aps in South Africa with long ballasts from Singapore or India. India–China maintained lower levels of about $5,000 per day pro and similar numbers were seen for Black Sea–West Africa voyages” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
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- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Planning Commission, India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
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