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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 $5,000 per day pro and similar numbers were seen for Black Sea–West Africa voyages” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
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- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Bhatia International Limited - India
- MS Steel International - UAE
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Australian Coal Association
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
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