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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 $20,000s for trip Continent or Med. Handies fared well, averaging low teens over the week, irrespective of basin”.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
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- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Mjunction Services Limited - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
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