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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 $8,000” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
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- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Australian Coal Association
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Parliament of New Zealand
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- The University of Queensland
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
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