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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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Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
Tuesday, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
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- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
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