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