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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 $20,000s for trip Continent or Med. Handies fared well, averaging low teens over the week, irrespective of basin”.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
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- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- The University of Queensland
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
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