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Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, with a few exceptions. It’s true that from mid-March and up until the end of April, the industry’s benchmark, the Baltic Dry Index (BDI) managed to recover the losses it sustained during the first couple of months of the year, when it plunged to multi-decade lows. But, as it turns out the past couple of weeks, the BDI has been unable to inch forward, remaining relatively flat.
During the course of the previous week, the BDI rose by 0.3% last week, with the Capesize index increasing by 1.2%. The largest gainer was the Handysize index, which was up by 3.7%. By contrast, the Panamax Index fell by 3.6%, while the Supramax Index was down by 0.4%. Iron ore inventory at Chinese ports was mostly flat, price moved lower on risk-off. Steel stockpiles fell further, but remained at elevated levels while price moved marginally lower. Thermal coal inventory rose, while prices remained unchanged in the Chinese market.
Yesterday, the BDI was unchanged at 1,141 points with very few movement across the board. The Capesize Index was down by 7 points to 1,626 points, while the Panamax Index also fell by 5 points to 1,269 points. On the other hand, the Supramax Index was up by 5 points to 1,113 points and the Handysize Index was up by 5 points to 644 points, recovering from the lows of the beginning of the year.
In its latest weekly report, shipbroker BRS noted that in the Capesize market, “there was some firming in the Pacific this week with Hedland-Qingdao reaching $7.75, a 2.5% increase on the previous week. However elsewhere the picture was less active - an increase in the Atlantic mid week evaporated by the end of the week and rates finished on Friday little changed or slightly down. Tubarao-Qingdao also eased off, losing around 1% to finish at $20.30. A decline in coal fronthauls has removed what had otherwise been a good boost to the market. Overall the 4TC ended slightly up at $8,841, a rise of $246 over the week, while in the paper market, June, Q3 and Cal13 reported modest losses, losing -$300, - $200 and -$300 on the week. The 4TC recorded a 64 point drop on Monday” it said.
Meanwhile, as it mentioned “the Panamax 4TC market eased by $400 per day this week and closed at around $10,200 on Friday. The only route that gained ground was the fronthaul round which traded close to $19,000 and takers were keen to fix for minerals out of Cont and grain out of ECSA and even USG. In the Atlantic and Pacific, ships were traded at $12,000 and $8,000 respectively ($1,000 less than the week before) and the short period was paying a touch over $10,000 for ships delivery North China redelivery worldwide. The Indian market eased this week with the monsoon hitting the west coast, pushing vessels that were open in the area to ballast to ECSA where they were getting paid close to $10/11,000 dop basis” it mentioned.
Finally, on the Supramax/Handy size markets, it noted that “the BSI was very stable last week, losing only 4 points, but if we analyse what happened in both basins, we note a completely different scenario between the Atlantic and the Pacific. US Gulf/Skaw-Passero gained 10% Friday to Friday to finish the week at $22,135; on the Continent there is a small number of Supramaxes available for spot loading, and for scrap to the East Med Supras are asking about $15,000 while high teens are being done for redelivery Singapore/Japan. In the south Atlantic, the picture is different: there is more prompt tonnage available, and Supras are getting fixed in the $12,000 range for delivery West Africa TC trip via ECSA with redelivery Med, and about $18,000 for redelivery Far East. The Pacific market has been rather subdued this week and has led to time charter rates plummeting. The falling rupee has applied the brakes to Indian coal imports. In addition, the approaching monsoons have all but stopped the export of iron and mill scale. Freight for Indo/WCI is now close to $13 pmt, equivalent to a fall of almost 40% in a month. The Indonesian nickel ore ban, combined with the increased taxes on coal, has led to lower export volumes. This is further hurting an already depressed market” it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
Friday, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
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- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Planning Commission, India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- The University of Queensland
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
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