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Tuesday, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, when the Baltic Dry Index (BDI), the industry’s benchmark was back on retreat mode, as a result of a lacklustre Capesize market.
The BDI ended yesterday’s session down by 0.83% to 1,437, with the Capesize sector losing the most. The relative Baltic Capesize Index was down by 1.47% to 2,084 points, while Panamaxes managed to offer a sigh of relief to ship owners, ending Monday’s session on a higher note, up by 0.48% to 1,692 points.
According to the latest weekly report on the dry bulk market from Paris-based shipbroker Barry Rogliano Salles (BRS), “there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gaining almost 3.5% and 6% w-o-w to 2,115 and 1,684 points respectively. Conversely, the Supramax and the Handies lost about 2.2% and 1.8% respectively, falling to 1,277 and 699 points.
Despite the supposed end to the Karnatake ore export ban, it will be some time before India’s exports return to normal. The Federation of Indian Mineral Industries this week predicted exports would reach between 70-75m tonnes in the current financial year, compared to 95 million tonnes in 2010/11, and 117m tonnes in 2009/10. FIMI attributed the decline to the ongoing delay in lifting the ban, plus higher export duties and rail freight rates. India also faces another possible tax in the form of a royalty sharing mechanism” said the shipbroker.
Regarding the Capesize market, BRS mentioned that it was “another firmer week for the Capes, with the 4TC rising $748 to just under $14,000 at close, and the BCI touching 2,115 points. The Pacific showed strong gains and $8.50 was recorded for Hedland-Qingdao with one fixture reported at $8.75, while Tubarao-Qingdao reached $20.70. Tonnage was again tight in the Atlantic, though both basins softened at week end. Friday saw the 4TC’s first loss in June, and sentiment seems braced for further declines this week. The effect on paper prices was a $875 and $585 increase on July and 3Q prices. $12,000 per day appeared to be the going rate for 4-6 month charters by close. The 4TC fell $420 on Monday.
On the Panamax front BRS noted that “after a sluggish beginning to the week, a marked improvement was recorded in the latter half across both TA and Fronthaul markets, with the 1A and 2A indices recording increases of $1,142 and $980 respectively between 01/07/2011 and 08/07/2011. Sentiment improved on the back of increased cargo volumes and a tightening of prompt tonnage in the Atlantic, with TA rates hovering around $16,000 and Fronthaul levels steadying around low $20,000’s per day. Indeed, the Atlantic basin has appeared more supported in recent days, as opposed to the Pacific which came under a great deal of pressure the previous week due to stubbornly high levels of available tonnage. A number of short period fixtures were reported in the East this week for 4/6 months in the region of $12,500 per day; however overall sentiment continues to remain cautious in the face of a long list of open ships in the market, with only slight improvements seen in spot Pacific spot rates” it said in the report.
Finally, regarding the Supramax/Handy segment, “the Supramax market followed the trend of the previous week. The BSI lost about 2% from Friday to Friday, the average of the TC routes closing the week at $13,356. In all areas the market is softening. Supramaxes are getting fixed in the mid/high 20s for petcoke out of the US Gulf with redelivery Med, whereas for redelivery Far East same units are obtaining low 30s. Supras were fixed at about $15,000 delivery West Africa via ECSA with redel Skaw/Passero range and in the low 20s for redelivery East. The Pacific has been rather quiet over the last week. The number of Supramax stems for Nopac and Aussie rounds remain scarce. The number of nickle ore and coal stems has also dwindled. Indian exports of iron ore have all dried up on the west coast with the monsoons, but a handful of stems are now visible along the east coast. The movement of coal into India however has been constant. On the short period front, Supras are being fixed at $15,000 for 3 to 5 months delivery Med with redelivery Atlantic, while levels are around $13,000 for delivery Far East with redelivery worldwide” concluded Barry Rogliano Salles.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 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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- Ministry of Mines - Canada
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
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