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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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Thursday, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
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- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- White Energy Company Limited
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
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