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Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger ship type, the Capesize, typically used to ship iron ore and coal to China and other market, is still facing the heat of oversupply. Yesterday, the BDI (Baltic Dry Index) was 1.36% higher to 896 points, again with the support of smaller ship types, namely the Supramax and the Pamanax ones. By contrast the Capesize market was once again down by 0.85% on the day. The Supramax market inched higher by 1.82%, while Handies were also up by 1.53% to 530 points.
The latest report from shipbroker Fearnleys mentioned on the Capesize segment that “the Pacific has remained largely inactive with the exception on one Miner covering a couple of positions and managing to bring the market down in the process. The Atlantic has been equally as inactive, but there have been a few front haul fixtures at varying levels. It seems that the bottom here has been reached. Also the short period market, which had been paying a premium over the spot market, has all but disappeared” said Fearnleys.
In a separate report, shipbroker Shiptrade Services said that “in the Atlantic Basin over supply of tonnage keeps the market at low levels. The demand for iron ore and coal in Europe remains limited and this is the main reason for the negative sentiment in this region. The T/A rounds closed at levels close to 4.000 daily and the Fronhaul requirements from NCSA and ECUS and ECCA are not enough to drive the market upwards This down fall on rates was reflected on the average of TC routes which went down by USD 394 closing the week at USD 5,392. Pacific market remained stable at low levels with the round falling by USD 500, being fixed at USD 6,000. The cyclone which hit West-Australia refrained the iron ore majors from producing fresh cargoes resulting in oversupply of tonnage in the area. This preserved the negative sentiment as owners have to compete for lower rates when the production returns back to normal. Period activity was active but on lower rates around USD 10,000 levels” stated Shiptrade.
Moving on to one of the “stars” of the dry bulk market these days, the Panamax segment, Fearnleys noted that “the Panamax market has experienced some slightly positive signals the last week. We´ve seen rates coming up a bit in the Atlantic with the ECSA grain business being the main driver. We also see some more coal cargos from USEC and Baltic but the rates here are keeping somewhat flat. In the Pacific we have seen the market come off a bit with heavy rains in Aussie affecting mining and rail carriage of coal to the ports. The latter has caused vessels to start ballasting for the ECSA grain cargos in order to secure employment at decent levels. Fhauls are being fixed at around 16k + 600k GBB for ECSA and Tarvs fetching around 6k while the Pac rounds are being fixed in region of USD 7/8k. The period market is still somehow active with 1-year deals being concluded in region of USD 10,500” the shipbroker said.
On the Handy/Supramax segments, Fearnleys commented that another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US Gulf/Skaw Passero fixed tick above USD 15k. Fronthauls fixed USD 13600. The Pacific market has remained steady. For Indo-India, large eco Supra can fetch close to USD 19k bss Singapore. Premium cargoes like nickel ore are also seen fixed at USD 13k dely North China. Nopac also fixed around USD 11k dop Japan. Indian iron ore market remains quiet with less activity on WCI & ECI. WCI-China rates around USD 11k and ECI-China around USD 8k. RBCT rv fixed at APS USD 12k + BB USD 350k. Red Sea fertilisers to India are fixed high teens. Not much activity seen on short period and rates are around USD 12k for large Supra” concluded the shipbroker in its report.
Similarly, Shiptrade said that “in the Atlantic it was a positive week with the transatlantic increasing at USD 8,000 mainly due to more cargoes coming out in the market especially from ECSA where, after a long time, some sugar parcels came to remind owners that grain season is about to begin. This was reinforced by some movement in orders from West Africa to Continent or Far East which relieved ECSA from ballasters. USG and Continent remained at flat rates with low volume on cargoes while rates ex Black Sea have been raised up a bit. The front haul trips remained at similar levels than last week averaging at around USD 13,750. On the other side, Pacific round was fixed at much better levels of USD 7,500 mainly due to increased coal exports from Indonesia and the whole South East Asia region. Back haul trips were mainly done ex Thailand to West Africa with bagged rice but yielded low returns for the owners thus many refrained from coming back to Atlantic than suffering losses. Vessels opened at East Coast India preferred to ballast towards Singapore for a trip to China of PG. Period activity was extremely slow as owners found no reason to fixing at such rates” it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
Friday, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS
Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's ...
Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market ...
Thursday, 07 June 12
COAL EXPORT TAX NOT RATIONAL: MINISTER - THE JAKARTA POST
Trade Minister Gita Wirjawan has criticized as irrational the idea to restrict coal exports by imposing an export tax, According to The Jakarta post ...
Thursday, 07 June 12
BY 2022 PLN IS EXPECTED TO BURN AROUND 125 MILLION TONS OF COAL
COALspot.com - Indonesia's state owned electricity company's (PLN) coal consumption is expected to reach 125.7 million tons by 2012.
Nur Pamudj ...
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- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
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