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