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Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are constantly evolving and changing. The Baltic Dry Index (BDI), the industry’s benchmark, fell yesterday to its lowest in more than three weeks, ending the session down to 1,400 points, retreating by a total of 0.85%. The main reason was the weaker capesize activity, with shipbrokers reporting lower demand. As a result, the Baltic Capesize Index fell by 2.19% to 1,694 points, while a smaller fall of 0.6% was also noted in the Supramax segment. The only “survivor” of this latest downfall of the market, has, so far, been the Panamax market, which is steadily outpacing the oversupplied Capesize one. Panamaxes were higher by 1.28% yesterday to 1,975 points.
In its latest weekly report, Paris-based shipbroker Barry Rogliano Salles (BRS) said that the past week was characterized by yet more instability, with the Capes, Supras and Handies losing ground, and the Panamax gaining, a pattern carried on in this week as well. “Stockpiles of imported iron ore at China’s major ports rose by almost 1% this week to a new high of 93.43 million tonnes. It follows a 0.8% increase in imports in May to 53.3 million tonnes compared to the previous month. Despite government efforts to curb overheating, and low profit margins for the industry, production at China’s steel mills remains robust. The mills produced a record 60.25 million tonnes of steel in May. Demand is expected to stay strong until July, when the quieter summer season begins. Power rationing could also curb some activity between June and September” said BRS.
On the Capesize market, it said it’s been “a quiet start to the week saw rates drop in the Pacific, and then subsequently spread to the Atlantic. Overall the BCI dropped nearly 11% to 1735, with Atlantic routes taking the biggest hit. In the Pacific, Tubarao-China was fairly busy but ultimately rates dropped around 5% w-ow, and out of Australia there was a good flow of cargoes, but even here the oversupply of tonnage pushed rates down slightly by around 3%. The 4TC finished on Friday at US$9,320 per day, down from US$11,773 the previous week. The BCI dropped 12 points on Monday, and there was uncertainty about the future direction of the market” said the shipbroker.
As for the best performing market, the Panamax one, “Friday to Friday, the Panamax market rose by US$1,300 in the Atlantic (US$16,800 per day) and $1,400 in the Pacific (US$14,500 per day). In the Pacific, the Indo and Australian coal cargoes were keeping prompt vessels active, giving some fresh air to owners. Out of India, however, iron exports were less active and vessels were not achieving more than US$12.50 pmt basis ECI/China route. In the Atlantic, the number of available ships was much less than a month ago and this basin seemed to have found a real stability. Period wise, the market has been extremely quiet throughout the week mainly due to a weak forward FFA market. Rates for short period remained stable at around US$14,000/14,500 per day for short period dely North China redelivery worldwide” noted the report.
Finally, on the smaller ship types of the Supramax and Handysize class, BRS mentioned that “the Baltic Supramax Index came off last week from US$15,004 to US$14,009, mainly driven by the eastern side due to the oversupply of vessels in the Pacific and the start of Indian monsoon. A 56,000 dwt was fixed for a Nopac round last week at US$13,500 daily, while a week later a 52,000 dwt was fixed at US$10,000 for a similar trip. Supramax have been fixed from India to China around US$9,000 daily compared to a week earlier when it was around US$12,000. The worst we noted was a Supra fixed spot China to ECSA at US$6,500 daily. The Atlantic remained stable due to a good activity in USG and ECSA, in particular a 58,000 dwt was fixed at US$28,800 from USG to Cont. In the smaller sizes, the Baltic Handysize slightly decreased by 16 points to reach 749, while the average of the TC close at US$11,110. Handysize were fixed in the high teens from ECSA to Cont, and similar numbers have been seen from USG. The Black Sea saw a lack of activity this week but rates remained ok with a modern 28,000 dwt fixed at a good rate of US$7,500 to USG, while other vessels were fixed at US$10,000 to Wafr. In the East, rates are decreasing slightly and a 37,000 dwt was fixed for a Nopac round at a similar rate as Supramaxes at US$10,000, in line with the Baltic index. Only one fixture has been reported from India to China for a 33,000 dwt, also at US$ 10,000.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
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. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
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 ...
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- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- PTC India Limited - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
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