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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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- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- VISA Power Limited - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- PTC India Limited - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
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