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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% to 1,446 points. Capesizes and Panamaxes have been the stars so far, with the Capesize market gaining 4.08% and the Panamax one returning to rising levels by an equally impressive 4.39%. Of course, one should take into account that traditionally this time of the year, the dry bulk market experiences its highest seasonal demand, which could help justify this week’s rise. But, on the other hand, oversupply issues haven’t just “magically” gone away and will keep on pressing the market and causing high rate volatility.
Yesterday, brokers and analysts alike were speculating that behind this week’s rise, is the potential decommissioning of some vessels.
“No owner’s going to continue doing business at $4,000 a day or $6,000, below operating costs,” said Hendrik Leusink, division executive for capesize and panama vessels at Island View Shipping SA, South Africa’s biggest commodities shipping line.
Quoted by Bloomberg he mentioned that “people will put ships into temporary lay-up or idle ships.” Operating costs for the vessels are between $7,500 and $8,000 a day, according to estimates from London-based Simpson Spence & Young, the world’s second-biggest shipbroker. Capesizes were below that level from April 11 to May 19.
In its latest weekly report, Fearnley’s mentioned that finally there were some good news for Capesize ship owners, even though rates in general are at a historic low and fundamentals have changed very little over the week. “Driven almost entirely by increased transatlantic coal trades and a steady volume on the Brazil/China iron ore run, average spot levels are up more than 50% to come in at close to USD 9k. Pacific is slow and eventless in comparison, though, with resultant levels for the WAust/China ore run only marginally up at USD 7.35 pmt which is still below opex. Expectations are there for this to last a little longer, thus more period fixing is expected - last done is 178kdwt/built 1998 done for 10-14 months at USD 10700/day basis delivery Qingdao mid June” said the report.
In the Panamax market, “after a slow start to the week, we saw more cargoes in the market on Tuesday with both coal from US and grains from ECSA. Especially the Pacific basin took a turn on Tuesday evening with chrts chasing prompt ships which were lacking. NoPac rounds were fixed at around 14k and still climbing, while the Atlantic rounds were fetching around USD 15k. Fronthauls hovering around USD 250k. It has been some short period activity this week with rates hovering around 13/14k. It was also rumored a kmax being fixed and failed for 3 years at a tick more than USD 14k” mentioned the shipbroker.
Finally, for the smaller ship types, “rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnage on ppt /beg of June positions. US Gulf to the Far East is slowly but surely firming further and more activity seen on transatlantic round voyage. ECSA is balanced with very little movement on rates. Outlook: stable. The Pacific market remains soft and owners unwilling to come in India due to lack of outbound cargoes. For Indo-India, Supras in North China are getting close to 12k. Nickel-ore rounds are getting firm rates in mid-high teens from Indonesia.
WCI-China rates slided to 15k and from ECI around 12k. Red Sea; ferts on handymax/ Supras are fixed at very mid 20´s pmt on voyage basis to WC India. Large Supras for RBCT/India round are now asking 15k. Short period deals done at mid-teens for large Supras” concluded Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 20 June 11
KPCL SETS ALL INDIA & POSSIBLY A WORLD RECORD FOR COAL DISCHARGING
COALspot.com - Krishnapatnam Port has set an all India record for discharging 95,528 tons of steam coal in just 24 hrs using the conventional unload ...
Monday, 20 June 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2011 IS ON THE WAY
Press Release - Since the beginning of 2011, international commodity price has been in a high level, resulting in “TENSION” of energy co ...
Sunday, 19 June 11
S6 AND S7 ROUTES LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market seemed to be stabilizing and the BDI and Cape index was up marginally and closed at 1,423 points and 1,824 points ...
Sunday, 19 June 11
BUMI 1Q NET PROFIT INCREASES 16.5 PERCENT
PT Bumi Resources Tbk (BUMI), Indonesia's largest coal exporter that is 25% owned by London-listed Vallar Plc, reported a16.49% increase in net pro ...
Friday, 17 June 11
DRY BULK BREATHES SIGH OF RELEAF ON RENEWED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has caught a sign of relief from the middle of the week onwards, as the BDI (Baltic Dry Index) increased once again yesterday, t ...
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- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Central Java Power - Indonesia
- Planning Commission, India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
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