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Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the Supramax Index rising by 22 points, as rates for supramaxes were up by $229 to $12,852. Similarly, average daily rates for Handies were higer by 440 to $10,334. Capesizes also moved to higher ground, as the Baltic Capesize Index was up by 14 points, or $170, with average daily rates now at $3,826. By contrast, the Panamax market has kept on falling, as average earnings yesterday were set at $7,815.
In its weekly report, shipbroker Fearnleys noted on the Capesize market that “bunker prices have stabilized at lower levels and the freight market has seemed to have stabilized, with the exception of the Atlantic which is dismal. The usual large operators have continued to turn over their fleets at stable rates (just below USD 10k daily). The front haul market has also hit a bottom, and is now flat. We do not expect any major movement in the rates and any changes are more likely to be related to bunker cost than to the basic supply and demand picture” it said.
In the Supramax/Handysize markets, Fearnley’s noted that «the Supramax market is still looking very healthy compared to the other sizes of tonnage. In the Atlantic supply of fresh orders helped the rates to reach the range of USD 24-25k for the voyages from USG/ESAM to Continent and Med. Period activity focused mainly on 3/5 or 4/6 months employments for which vessels were paid USD 8.5/10k daily based on the delivery in the East. Pacific market has been steady and looking to remain firm in coming days as rates are getting firm on Indo and Nopac rounds. For Indo-India, large eco Supra now fixed at USD 9k basis South China dely. Some owners also asking for low teens for SE Asia dely. Nopac also fixed bss at USD 10k basis Japan. Indian iron ore market remains quiet with less activity on WCI & ECI. WCI-China rates around USD 8k and ECI-China around USD 5k. RBCT rv fixed at APS
USD 10k + BB USD 350k. Red Sea fertilisers to India are fixed high teens. Not much activity seen on short period and rates around USD 9k for large Supra” the report noted.
Finally, on the Panamax front, it noted that “even though there were fresh cargoes entering the Atlantic it is not sufficient to have any major effect on the rates due to the growing list of available ships. In the Med, the tonnage list is shorter, perhaps giving owners the idea they might achieve good rates, however it is simply not a demand for prompt vessels in this area. More cargoes are appearing in the Atlantic for end July dates, however this is of no comfort to the many owners with prompt positions. Tarvs now being fixed in region of USD 8k. The ECSA market is served by ballasters from India and the Feast were they achieve rates around USD 14.5+475k BB basis APS delivery. Pacific market is quiet but rates seem to be quite stable with Aussie and Indo RV being the prominent trades. As for Nopac, the grain cargos are quite scarce. Rates for rounds are around 5-6k. The period market finds little support and few fixtures are reported this week. Short periods like 4/6 mos are being paid in region of 9-9.5k for Feast delivery” Fearnley’s concluded.
In a relative note, Commodore Research noted the effect of the recent weather conditions (heavy rainfall) in Southern China, with regards to the dry bulk market. Commodore mentioned that Chinese hydropower production has continued to surge and is putting added pressure on demand for thermal coal. With drought conditions finally seeing real improvement, it is possible that hydropower production will approach record levels within a few months. Panamax rates have been most affected by the decline in demand for imported thermal coal cargoes and are poised to come under additional pressure” mentioned the US-based analyst.
It added that “to make matters even worse for upcoming thermal coal demand prospects (and better for hydropower production prospects), southern China is now expected to be hit by another tropical storm. Tropical Storm Doksuri is currently situated east of the Philippines and is expected to head on a northwesterly track towards China. As of now, Tropical Storm Doksuri is expected to make landfall near Hong Kong on Saturday and bring a very large amount of rain to southern China over the weekend. Hydropower production will benefit if the storm continues on its projected path and makes landfall as planned. As hydropower production increases, there will be less demand for thermal coal” the company concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
Monday, 28 May 12
COAL EXPORTS ARE JUMPING HIGHER, BUT PRICES ARE FALLING LOWER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...
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- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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