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Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
 In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path. The industry’s benchmark, the Baltic Dry Index (BDI) fell by 1.15% on the day to end down to 1,291 points. The main losses were attributed to the panamax segment, with the relative index falloing by 2.62%. The Capesize market was also down by 1.27% on the day.
According to the latest dry bulk weekly report from shipbroker Barry Rogliano Salles, it was another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. The latter may see a drop in activity in the coming weeks due to the Mississippi floods which are reported to be affecting current barge traffic.
In the coal market, the newly active US coal export market warned future growth could be constrained by infrastructural limitations. The US coal industry logged exports of around 25m tonnes in the first quarter of 2011 but Xcoal Energy chief executive Ernie Thrasher said producers would be unable to export more with the current east coast terminal capacity. US coal exports have provided significant new tonne-miles for the dry bulk market as coal supplies have become tight, but it appears they will be capped at around 100m tonnes per year due to the current infrastructure.
Commenting on the Capesize market, it mentioned that “although the drift is not significant, the Capesize recorded another week-on-week decline this week. The four time charter average finished at US$6,002, a drop of US$775 from the previous Friday, with the largest declines logged Aus-China, and Braz-China not far behind. There was a flurry of activity by the Australian mining groups, but there was ample tonnage to meet the demand and rates did not improve. The bearish sentiment was also evident in the FFA market with the Q3 contract losing 12% w-o-w to finish last week at US$9,036 and Cal 12 10% w-o-w. Monday was another typical day with the BCI sliding 19 points, with no signs of a severe drop but none of a major improvement either” said the shipbroker.
On the panamax front: “the BPI slipped by US$400 week-on-week. The Atlantic remained stable thanks to a good balance between cargoes and ships; even spot vessels managed to fix at good levels at close to US$14,500/day on the TA round. Out of ECSA, the market eased throughout the week and the fronthaul lost US$1,000 to close at US$22,500/day. Indian exports eased too and the Panamax rate Goa-China was close to US$13 pmt, down US$2 pmt from the previous week.
The Nopac and Far East markets were quiet and by the end of the week the number of vessels had started to increase, pushing the NOPAC round closer to just US$12,000/day. Friday to Friday, the period market interest vanished and very few vessels were reported fixed – the market for a Tess 74 BPI type was in the low-mid US$14,000s/ day, a US$2,000 drop from a week ago” said the report.
As for the Supra and Handy markets, they “witnessed a steady flow of activity last week with barely 5 points difference between Monday and Friday for the Supras and just 1 point for the Handies. We saw a slight drop in the Supras in the Far East, which appeared to be linked to the drop in paper values. India –China voyages went for about US$14,500 even though some owners tried to resist and rated ships at US$16,500 for the same routes. Indo – India went for an average of about US$17,500/day.
We still saw strong numbers such as US$30,000 from the US Gulf to the Far East. The market anticipated an immediate impact from the floods in the Mississippi but this was not the case. Continent-Med trips went for about US$18,000 while ECSA-Cont went for US$28,000. The Med was nearly dormant for the Supras. Out of the Black Sea we started to see some Corn cargoes for the first time since May last year. The rates are still not the best as a few Handies were fixed at about US$6,000 for trips Black Sea-Cont and about US$9,000 Med-Cont. Handies went for an average of about US$20,000 for US Gulf–Cont voyages and about US$22,000 for Cont –Far East trips.
On the period front, we noticed many ships who were willing to go for short period but not many takers. Supras went for about US$14,000 for 4-6 months delivery east Med redel Atlantic and another at US$15,000 same 4-6 months redel Atlantic. A Handy went for US$13,000 for 1 year period redel worldwide” concluded BRS.
Source - Nikos Roussanoglou, Hellenic Shipping
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Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
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- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
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