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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, 07 May 11
SUPRAMAXES ARE AT AROUND $ 13,500-14,000 PER DAY FOR SINGLE TRIPS
COALspot.com - The freight remained fairly steady this week with the BDI up by 71 points and closing at 1,340 points, said Capt. Reddy, the director ...
Saturday, 07 May 11
COAL PRODUCTION MAY REACH 95M TONS IN SECOND QUARTER - THE JAKARTA POST
The Jakarta Post reported that, Indonesian miners are projected to produce around 95 million tons of coal in the second quarter of this year after l ...
Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES
The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now ...
Thursday, 05 May 11
SUPRAS IN NORTH CHINA ARE GETTING CLOSE TO $ 13K FOR INDO-INDIA
Handy
The Atlantic market is stable/flat with positive undertone meaning more enquiries hitting the market today. Lack of prompt vessels. Trips to ...
Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
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- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- The University of Queensland
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Economic Council, Georgia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
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