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Tuesday, 21 June 11
DRY BULK MARKET TURNS RED AGAIN ON VESSEL OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk entered this week on a negative turn, with the industry’s benchmark the Baltic Dry Index (BDI) retreating by 0.35% to end the session down to 1,418 points. Still, sentiment was mixed between the various ship types and markets, with Capesizes faring better than smaller vessels and finally edging ever so closer to the Panamax market, in terms of average daily earnings. Yesterday, the Baltic Capesize Index (BCI) was higher by 0.66% to 1,836 points. This, combined with the Panamax’s market retreat by 1.62% to 1,883 points meant that the two larger vessel types are ever so close. During the previous months, the panamaxes earning more than their larger counterparts has been a typical “abnormality of the market”, on the back of higher supply of capesize vessels.
In a relative report, Paris-based Barry Rogliano Salles mentioned that the Capesize market was the sole positive positive performer this week, with the BCI up 5%, while all the other segments suffered losses. The BPI lost almost 1% to finish at 1914 points, while the BSI and the BHSI lost 2% to 1319 and to 734 respectively. On the Capesize market, the report noted that “after a soft start to the week, rates picked up and the BCI finished Friday at 1824 points, and the 4TC at US$10,120 – a 9% increase on the previous week. The Atlantic saw a good recovery with rates going up 7-8%, while Hedland-Qingdao also saw a small boost. There were also some signs of a pick-up in China coal demand with fixtures being quoted for longer haul routes. The period market continues to soften, however, and a 171,000 tonner was fixed for 9-11 months with China delivery at US$10,250 per day, a new low for the market. The market is also seeing a drop in demolition rates in the Indian sub-continent, signaling that the supply of tonnage going for scrap may now be taking its toll on prices” said BRS.
It is worth noting that Vale announced this week that its new ‘Valemax’ vessels would reduce its shipping costs by around 20-25%, and that it would ‘keep building as much as is necessary’. Vale said iron ore shipping costs for the company would drop to between $17-$18 per ton with the new ships, compared to $22 per ton today. The company also declared ‘a few ports’ in China were ready to accommodate the vessels. Vale calculates its freight costs based on a 10 year average operating cost plus a good return on the capital investment for a basket of vessels including Capesizes and the new mega sized vessels. Vale admitted the ships would have greater benefit in the a harder market: “Today we have got the best possible market situation with high iron ore prices and low freight rates but we want to be ready for when the market turns."
In terms of the Panamax market, it “stayed flat this week with the 4TC average easing by $100 to close the week at $15,344 per day. The Pacific market fell by $550 to just below $14,000 per day.
The Indian Ocean stayed quiet and iron ore out of WCI/China was muted – Panamax vessels open there were able to fix at around $12-12.50 pmt for trip from WCI to China.
In the Atlantic, the market peaked on Wednesday and then eased by $300 per day Thursday and Friday. W-o-w the TA increased by $200, to end the week at just below $17,000 per day.
Period wise, the short period market stayed flat at $14,000 with a small number of vessels being fixed” said the report.
As far as the Supramax/Handy markets are concerned, BRS mentioned that “the Far East remained unexciting with a definite lack of cargoes and plenty of ships in every position. Consequently the market weakened further, falling to below $10,000 for Nopac or Australian round voyages. Another bleak area was India, where the monsoon has started hitting owners hard, leaving no alternative but to ballast either to South Africa or further away to ECSA or the Singapore area. South America saw a flurry of activity with a good number of fixtures to any destination, supported by sugar and grain exports. Several Supramax have been fixed in the region of $20-21,000 + $400,000 ballast bonus, with ECSA delivery for trip out. The transatlantic remained steady, with rates equating to mid teens for round voyages. The USG remained firm with several petcoke stems, leading to rates in the mid $20,000s for trip Continent or Med. Handies fared well, averaging low teens over the week, irrespective of basin”.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power ...
Tuesday, 26 July 11
UT'S SALES COULD REACH TO 8000 UNITS BY THE END OF 2011
COALspot.com - Sales of Komatsu heavy equipment in the domestic market in the first half of 2011 rose 59 percent to 4333 units compared to the same ...
Monday, 25 July 11
INDONESIA STATE ELECTRICITY COMPANY HAS BURNED 19 MMT OF COAL FOR FIRST HALF OF 2011
COALspot.com - Indonesia's State Electricity Company and other IPPs have burned 19 million tons of coal for first half of this year said,Pamudji Nu ...
Monday, 25 July 11
AKR CORPORINDO TO PRODUCE 0.3 MMT OF COAL BY DECEMBER
COALspot.com - PT AKR Corporindo (AKRA) began producing coal from its mine in Muara Teweh, Central Kalimantan. The company is targeting to pro ...
Sunday, 24 July 11
AN INDIAN PORT SETS A WORLD RECORD FOR CONVENTIONAL COAL DISCHARGE
COALspot.com - Krishnapatnam Port has set a World record for discharging 106,171 tons of steam coal in just 24 hrs using the conventional unloading sy ...
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- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
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