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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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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 ...
Thursday, 16 June 11
BOOSTING THE USE OF LOW CARBON ENERGY FOR A BETTER WORLD
Bali, Indonesia host of world renewable energy congress – Indonesia, international conference & exhibition on renewable energy and energy ...
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- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Australian Coal Association
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
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