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Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further down by 1.07% to 1,296 points. Once again the Capesize segment posted the biggest losses, with the Baltic Capesize Index down by 0.88% to 1,800 points. On a similar note, the Panamax market was down by 0.39% ending at 1,532 points, while marginal losses were also recorded on the Supramax segment, which retreated by 0.08% to 1,265 points.
Referring on the Capesize market, the latest weekly report from shipbroker Fearnley’s said that “summer doldrums prevailing, with limited volumes traded and levels softening slowly. Atlantic being dull and without much direction - a softer USD 11,500 done for transatlantic round on nice 181kdwt/built 2010 and the Tubarao/Qingdao fronthaul conference trade hovering around an uninspiring USD 19.25/19.50 pmt. Pacific spot also suffering from a similar lack of fresh volumes, with the main climate indicator trade Dampier/Qingdao remaining stuck in the dismal USD 7.75/7.85 pmt-region. Little joy is expected short-term, as the number of ballasters heading west remains steady and possibly increasing. Period activity very limited, partly due to major players being absent - representative conclusions include 169kdwt/blt 2010 done for 5-8 months at around USD 11,400/day basis prompt China delivery” it said.
In a similar report earlier in the week, shipbroker Shiptrade Services had mentioned that it was a soft week with rates dropping in both basins. “In the Atlantic region cargoes were thin with plenty of tonnage available. During mid-week we saw a short enquiry increase for Transatlantic round that improved rates just a bit, but soon levels dropped again at around USD 12.250 per day. In this respect the Brazil – China route moved the same way and at levels concluded around USD 19.30 pmt. In the Pacific, market remained at steady activity, but rates softened just a bit as iron ore majors were not eager for tonnage. Owners had to discount, and at week’s closing the Australia – China trade was concluded at levels around USD 7.85 - 7.95 pmt” said Shiptrade Services. Meanwhile, quoted by a Reuters story, Mr. George Lazaridis head of research of shipbroker Intermodal said that "we have seen a drop in activity especially from iron ore cargo, mainly due to drop in demand compared with about four weeks ago.”
On the Panamax front, Fearnley’s said that “the Panamax market had a slow start to the week with little business being reported. Seems there are more cargoes in the market, however some owners seem reluctant to fix at current levels. The period market has been nonexisting.
Vessels being fixed for Tarvs are now getting tick above USD 14k while the fronthauls are being fixed in region of USD 21k. In the Pacific we see a slight rate increase compared to last week with rounds being fixed at USD 8,600 while backhauls are being fixed at a poor USD 4k” the shipbroker said.
Shiptrade’s view on the Panamax market was the following: “Activity was steady but rates moved downwards. There was a good activity in the Atlantic but rates softened as an effect from the ballasters coming from the pacific. Rates for Transatlantic round began from USD 16.000 per day during early week, and eventually concluded at USD 14.000 per day. On the Fronthaul trade, there were not many owners willing to sail towards Far East, so levels ex Continent/Mediterranean remained at the same levels, around USD 22.000 per day, while the ECSA/F.EAST trade, concluded at levels around USD 24.000 plus USD 450.000 ballast bonus. In the Pacific we could still see a high volume of tonnage, combined with no increase on the requirements. Indonesia cargoes to India remained at a steady flow, but many Owners consider this as a last option. Rates for Pacific round were done around USD 8.000-8.500 per day basis N. China delivery, while rates for trips ex NOPAC moved upwards at levels around USD 9.750 per day basis delivery N.China/Japan range. (M/V Ellivita 75.522/99’)” said Shiptrade Services.
As for the smaller Handy market Fearnleys’ report mentioned that “the Atlantic is soft across all segments with little fresh enquiry and tonnage piling up with rates in mid 20´s for Supras back to Feast via Aden. Black Sea is ´dead´ and mainly supported by the odd grain cargo. Most tonnage prefers to stay in Atlantic thus there is more and more ballasters competing at Gibraltar. Same situation on the Continent where tonnage is struggling to find good business. Outlook: soft. The Pacific remains quiet with not much change. For Indo-India, Supras in south China are getting close to 12k. Nickelore rounds are getting firm rates in low mid-teens. Very quiet on iron ore front due to monsoons as WCI-China rates slided to 10k and from ECI around 9k. RBCT biz fixed on ECI tonnage around 10k. Red Sea, ferts on handymax/Supras are fixed at very mid 20´s pmt on voyage basis to WC India. Period deals done at 12k for large Supras” it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
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- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
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