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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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Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
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- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
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