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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 $13,000 for delivery Far East with redelivery worldwide” concluded Barry Rogliano Salles.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 29 June 11
ANOTHER STRONG PERFORMANCE BY CAPESIZE - BRS
Another strong performance by the Capesize market this week, bringing the BCI up 8% to 1,974 points. However the Panamax market was penalised, losin ...
Monday, 27 June 11
THE IRON ORE IMPORTS BY CHINA SEEMED TO SLOW DOWN - VISTAAR
COALspot.com - The BDI was holding as previous week and was just up by 1 point and closed at 1424 points end of last week. The biggest gain was ...
Friday, 24 June 11
THE INDONESIAN GOVERNMENT WILL NOT EXTEND ALL EXPIRED MINING CONTRACTS - JAKARTA UPDATES
The Indonesian Government have decided not to extend all mining concessions under the scheme called Contract of Work and instead will take over the ...
Friday, 24 June 11
BERAU EYEING 70 PERCENT GROWTH IN EBITDA
Indonesia's coal producer PT Berau Coal Energy Tbk (BRAU) is eyeing a 60 -70 percent growth in EBITDA to US$ 560 million-US$595 million this year. ...
Thursday, 23 June 11
DRY BULK MARKET KEEPS EXHIBITING SIGNS OF WEAKNESS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to climb at new highs this week, showing signs of weakness, across most ship types. Yesterday, the Baltic Dry ...
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- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
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