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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 during the past 10 consecutive sessions, bringing the industry’s benchmark, the Baltic Dry Index (BDI) down to 878 points yesterday, losing another 26 points or 2.88 percent, which is the lowest since March. The Baltic's capesize index fell by 3.54 percent to 1,252 points with average daily earnings for capesizes, dropping to $4,526. Similarly, The average daily earnings for handysize and supramax ships fell to $8,912 and $10,539, respectively. Finally, Baltic's panamax index dipped 2.23 percent to 877 points, while their average daily earnings fell $162 to $6,976.
In its latest weekly report, shipbroker Fearnleys noted on the Capesize market that history is made as this segment hits its absolute lows so far this year. With average spot earnings falling another 15% w-o-w to come in at USD 4500/day and demand continuing to be far from sufficient to employ a growing fleet, tonnage keeps piling up in all areas. Atlantic is taking the hardest hit, as ore and particularly coal exports have to a large extent become paralyzed by traders panicking in their efforts to sell cargoes already loaded and bound for China. An ongoing Euro crisis coupled with negative news from the Chinese steel industry gives no reason to expect conditions to improve near-term - clearly reflected in FFA levels - and rates for modern 175,000-tonners are now down to well below USD 10k for 5-8 months mentioned Fearnleys.
On the Panamax market it noted that we left last week on a slow note, and continued into this week with the same pace. London was closed on Monday and Tuesday which contributed even further. We hear rumors of at least 30 Panamaxes just lying outside China fully loaded with coal. The traders are not able to sell it due to record high stockpiles in Chinese ports. A few fronthaul orders surfaced in the market and vessels willing to go FEast still achieved quite good rates, whilst transatlantic biz is scarce with most being done on aps or voyage basis. Charterers are rating vessels around 8k for transatlantic biz, and about same levels for Baltic rounds. In the Pacific the rates are low and not a lot of orders in the market. Indo and Pac rounds are paying around 5k. The period market is not very active as few owners are willing to charter out their vessels at the low rates chrtrs are currently offering. Would put short period around 8k for LME´s said Fearnleys.
On the Handy markets, the shipbroker stated that with holidays in some European countries start of the week and Posedonia at the same time, it resulted in less activity compared to last week. Continent positions fetched tick above USD 5k for US Gulf redelivery, and US Gulf fixed close to USD 25k back to Cont. Fronthauls hovered at around USD 19k. The Pacific market has been slipping with still bottom to be found. For Indo-India, large eco Supra now fixed at USD 5k + BB USD 60k basis APS Indonesia. Nickel ore cargoes are not seen in the market anymore due to on-going Indo ban which has again taken away cargoes and putting pressure on the market. Nopac also fixed basis APS at USD 10k + 300k BB. Indian iron ore market remains quiet with less activity; WCI-China rates around USD 8k and ECI-China around USD 5k. RBCT rv fixed at APS USD 11k + BB USD 300k. Red Sea fertilisers to India are fixed high teens. Not much activity seen on short period and rates around USD 9k for large Supra concluded Fearnleys.
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
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 ...
Wednesday, 06 June 12
INDONESIAN GOVERNMENT'S DECLARED COAL PRICES CONTINUING ITS DECLINE
COALspot.com - Indonesian HBA fell to lowest level since January 2011 in June 2012. The monthly coal reference price for coal sales this month ...
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- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- The University of Queensland
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
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