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