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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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Sunday, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Aver ...
Thursday, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured e ...
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- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Minerals Council of Australia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- The University of Queensland
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
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