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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 $5,000 per day pro and similar numbers were seen for Black Sea–West Africa voyages” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
Monday, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
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- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
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