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Wednesday, 20 July 11
DRY BULK MARKET KEEPS ON FALLING ON SOFTENING CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market retreated to lower ground on Tuesday, as the industry’s benchmark, the BDI (Baltic Dry Index) fell to 1,330 points, down by 0.75% on the day. Capesizes and Panamaxes were weak alltogether, with the Baltic Capesize Index retreating by 0.84% to 1,884 points and the Baltic Panamax Index (BPI) ending the session down by 0.9% to 1,541 points.
According to the latest weekly report from Barry Rogliano Salles (BRS), “there was a softening for the larger ships this week, with the Capesize and Panamax indices falling 9% and 6% respectively to end on Friday at 1,918 and 1,578 points. However the Supras and Handies stayed firm, losing just a handful of points to finish at 1,271 and 696 points.
In the news, it emerged Australian mining newcomer Fortescue has been in talks with Asian yards over a possible order for a series of 250,000 dwt Capesizes. The news underlines the fact that, despite the heavy Capesize orderbook (equivalent to 45% of the existing fleet for Capes over 80,000 dwt), operators with secure or captive cargoes may still order new tonnage given current newbuilding prices. At an estimated $53m, the price for a standard Capesize is now back at 2003 levels once inflation adjustments are taken into account” said BRS.
In terms of the Capesize segment, “despite a decent start to the week, activity declined by the end of the week and rates slipped significantly. Friday-to-Friday the BCI fell nearly 200 points while the 4TC closed the week at $11,500, down from $13,941 the previous Friday. Indeed Thursday saw the 4TC breach $14,000, its highest level since January 2011. As a result of this week’s fall, the Panamax time charter average rose back above the Cape again. Overall, Pacific rates fell 8% and South America-Cont nearly 10%. But Tubarao-China remained fairly steady, losing only 3% over the week. The mixed messages in the physical market saw light trading on paper, but Q4 finished the week at $12,135, higher than the $11,250 logged for August and September” said the Paris-based shipboker.
Similarly, “the Panamax market is still weak and under pressure worldwide. Friday and Monday were almost silent with very few fixtures to report. On the top of the $1,200 lost from July 4-11, the P4TC posted a additional $1,100 loss for July 11-18. Open tonnage in the Atlantic/Pacific and India continues to rise and more ballasters are expected to hit the ECSA this week. In the Atlantic, the TA trip, previously in the mid $15,000s was now aiming at $14,000, with charterers sometimes asking below $13,500, helped by the oversupply. Some fresh cargoes out of the USG have helped to support rates so far but the pressure is now rising. It is the same story for the cargoes out of ECSA as ballasters from the Far East become available, which will enable charterers to push for lower rates. There is a bearish outlook for the coming week. Meanwhile the P2A index dropped by $1,200 last week.
In the Pacific, the freight market eased too on the back of few fresh cargoes. The P3A index lost $1,400 ($8,469/day) and sentiment there is still relatively negative with rates recently done closer to $8,000/day. The monsoon and high iron ore stockpiles in China (imported ore stocks are at a record high) will not impact the market positively. The only market showing some strength was short period, with rates in the $12,800/$13,200 range, which is up +$400/500 on the previous week” mentioned BRS in its analysis.
Referring to the Supramax/Handy markets, the report said that “the Supras have been following the same trend for a couple of weeks now, that is, a slight decrease. The Index lost 2 points over the last week to end up at 1,271 points while the average lost $18 over the week, falling from $13,310 to $13,292. The market was pretty quiet, driven by uncertainty, and modern Supras were fixed from West Africa to the Far East via east coast South America at a touch below $20,000. From the US Gulf area, Supramaxes were fixed to the Continent in the mid $20,000s and in the high $20,000s for Far East direction. For short period, modern Supras were taken in the Atlantic for 3/5 months at around $14,000.For the smaller sizes, the BHSI remained almost steady, losing 2 points and ending the week at 696 points. Handies were fixed in the mid/high $10,000s ex USG to the Black Sea and slightly under mid 10,000s ex Continent to the East Med. In the Pacific Basin, the Nopac fixtures for Supras are in the $9,500/10,000 level, the China round is around $11,000. The Indo to India route is fixed at around $13,000. For Handysize, the Australian round is about $8,000” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
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- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- The University of Queensland
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- PTC India Limited - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
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