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Sunday, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session up by 1.05% to 1,443 points. The Capesize Index has inched higher, gaining 1.63% on Wednesday to reach 2,116 points, managing to stay clear ahead of the Panamax sector. Panamaxes were also higher by 2.01% with the relative Panamax Index now standing at 1,626 points. Up until a couple of weeks ago, Panamaxes were ahead of their larger Capesize counterparts, in a paradox of the latest circumstances prevailing in the dry bulk market for months.
In a latest update on the Capesize resurgence, US-based analyst Commodore Research & Consultancy said that approximately 108 dry bulk vessels were delivered in May, a significant increase from 71 vessels delivered in April. May saw the delivery of 29 handysize vessels, 36 handymax vessels, 22 panamax vessels, and 21 capesize vessels. In comparison, April saw the delivery of 14 handysize vessels, 20 handymax vessels, 20 panamax vessels, and 31 capesize vessels.
“Approximately 35 vessels were demolished in May, a small increase from 27 vessels demolished in April. May saw the demolition of 11 handysize vessels, 4 handymax vessels, 8 panamax vessels, and 12 capesize vessels. In comparison, April saw the demolition of 11 handysize vessels, 5 handymax vessels, 6 panamax vessels, and 5 capesize vessels.
The capesize market fared the best in May, registering a net addition of only 9 vessels (in comparison, April saw a net addition of 26 Capes). This is partially why Cape rates have been able to find support since the second half of May. The 12 Capes that were scrapped in May were the largest amount of Capes scrapped in a single month this year. In comparison, January to April saw an average of 6 Capes scrapped per month. May’s small net addition, combined with an increase in iron ore and coal demand seen throughout much of June, has helped average Cape rates rise from approximately $5,500/day at the middle of May to almost $14,000/day” said Commodore in its report.
In its latest weekly analysis of the dry bulk market, Fearnley’s said, referring to the Capesize segment, that “as most players were expecting a summer quiet market, the opposite is happening. West Australia/China route is stronger, in spite of only one of the big three appears to be active. Although little information in the market appears about last done levels, it seems mid 8s is the going level for this route. For Tubarao/Qingdao we see more activity as well, and bid/offer is presently usd 20,50/21.00 bss Tub/Qingdao. Short period is steady, with expectations for some further improvement, bid/offers for short period usd 12,000/12,500 dly” said the shipbroker.
In the Panamax segment, “despite recent signs of life in the Cape market, and spot levels on Panamax turning positive mid week, the sentiment in the Panamax market suffers from an underlying weak tone. Charterers are holding back and activity overall is limited. In the Atlantic prompt positions has been cleared out and rates are slowly climbing in mid teens. Grain orders still appear from ECSA, and runs to the Far East holding at 25 + 500 for ballasters or 22-23k bss Med positions. Owners are still suffering in the eastern hemisphere by lack of fresh requirements from both Aussie and NOPAC. Low volumes on coal with just a few Indonesian rounds still there, and short term expectations for coal is not encouraging. Pacific levels not at five figures yet. The FFA market is hovering around 12-13k for the next 12-18 months, maintaining similar levels for short/medium period where activity also is limited” said Fearnley’s.
Finally, on the Handy sector, it’s been “a quiet market with low activity for Supramax in the Atlantic this week, in particular for Cont/Med positions. NCSA-USG spot/prompt loaders also struggling to find employment. Ballasters from Indian Ocean adding pressure to the South Atlantic resulting in an overall negative trend.
The Pacific market is quiet. For Indo-India, Supras in south China are getting close to 11k. Nickel-ore rounds are getting firm rates in low-mid teens. Very quiet on iron ore front due to monsoons as WCI-China rates slided to 10k and from ECI around 9k.
Few Indian tonnage seen ballasting to Indonesia and RBCT. As a result, RBCT biz fixed on APS at around 20k. Red Sea, ferts on handymax/Supras are fixed at very mid 20´s pmt on voy bss to WC India. Period deals done at 14-15k for large Supras” concluded Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
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- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- The University of Queensland
- Australian Coal Association
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
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