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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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Friday, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
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- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- PTC India Limited - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
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