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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 $8,000” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
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 ...
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- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- The University of Queensland
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- ASAPP Information Group - India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
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