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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 $20,000s for trip Continent or Med. Handies fared well, averaging low teens over the week, irrespective of basin”.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 09 June 11
INDIKA AIMS TO PRODUCE 31 MILLION TONS OF COAL IN 2011 - THE JAKARTA POST
The Jakarta Post, a leading English news paper in Indonesia reported that, PT Indika Energy Tbk, an integrated energy company, is targeting to incre ...
Wednesday, 08 June 11
BAYAN TO DISTRIBUTE RP. 80 ( APPROX. US$ 0.00939850) PER SHARE DIVIDEND
Coal miner PT Bayan Resources Tbk (BYAN), that is controlled by business Dato' Low Tuck Kwong, will distribute Rp80 a share dividend or Rp266.7 bil ...
Wednesday, 08 June 11
CBM PRODUCTION FROM AUSTRALIA, CHINA, INDIA, AND INDONESIA IS EXPECTED TO WITNESS A SIGNIFICANT INCREASE BY 2015
Press Release - According to Global Data (December 2010), CBM production in Australia, China, India, and Indonesia is expected to witness a signific ...
Sunday, 05 June 11
COAL IMPORTS BY CHINA IS LIKELY TO INCREASE - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week except for the BDI and Cape index was up, but even in these sectors the momentum was compared t ...
Friday, 03 June 11
DRY BULK MARKETS RESURGENCE APPEARS TO BE LOSING SOME STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s seems to be losing some steam, despite reports of growing Chinese demand for commodities, especially coal, on the back o ...
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- Energy Development Corp, Philippines
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Planning Commission, India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Australian Coal Association
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- The University of Queensland
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
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