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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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- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
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