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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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Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
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- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
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