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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, 02 June 11
LARGE SUPRAS FOR RBCT/INDIA ROUND ARE NOW ASKING 14K - FEARNBULK
Handy
The Handy/Supra market has in general been flat and un-exciting this week. The Black Sea market is almost non existing while the US Gulf mar ...
Thursday, 02 June 11
DRY BULK SHIP OWNERS LOOKING INTO SHORTENED WEEK WITH ANXIETY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most markets in the western world closed yesterday, as a result of Memorial Day, dry bulk stakeholders weren’t able to build over the pos ...
Monday, 30 May 11
MIANG BESAR COAL TERMINAL ON TARGET
COALspot.com - MBCT, to be largest coal terminal in Asia to start construction in Indonesia’s east Kalimantan Island in July 2011 says Mr. Joh ...
Sunday, 29 May 11
THE FREIGHT MARKET CONTINUED TO GAIN MOMENTUM - VISTAAR
COALspot.com - The freight market continued to gain momentum and the BDI, Cape Index and Panamax was by up almost 10-12 pct and on all sectors, Vist ...
Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
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- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Central Java Power - Indonesia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- The University of Queensland
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
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