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Wednesday, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the industry’s benchmark edged further down to 1,253 points, 0.24% lower on the day, but the big news could be found in the positive signs emerged in the Capesize segment. The Baltic Capesize Index (BCI) was up by 0.63% yesterday, which could be coincidental, but could also be the start of a tipping point to the market’s negative sentiment. Elsewhere, Panamaxes were still down by 0.8%, while supramaxes were also down by 0.16% to 1,252 points.
According to the latest weekly report from Paris-based shipbroker Barry Rogliano Salles (BRS), during the course of last week the BDI fell by 4.5%, mainly as a result of a 5% fall of the Capesize market. “In Japan the Institute of Energy Economics for Japan (IEEJ) reported that alternative energy imports would rise significantly if local authorities kept reactors shut after routine maintenance due to safety concerns after Fukushima. According to the IEEJ, power companies would boost run rates for existing coal plants to 85%, up from current levels of 80%. This would lead to an 8.65m tone increase in coal imports for the 2012/13 year, a near 10% increase on the previous year. By May 2012, all 54 of Japan’s commercial reactors could go off line if safety fears delay their restart after regular maintenance” said BRS
Referring on the Capesize segment the report said that “a 6% slip in the BCI and a $1,400 drop in the four time charter average Fridayto-Friday confirmed there was more softening in the market, with the biggest declines in the Atlantic market where, although tonnage remains relatively tight, sentiment is falling away. That said, TA rates were still around $10,000 per day, and Braz-China is still offering $19-$20 per tonne. In the paper market, Q4 rates have now fallen to $10,900 per day, although there is some expectation of a market improvement in Q1 2012 which is now trading around $11,100” it mentioned.
On the Panamax front “in the Atlantic the overall supply of tonnage remained high over the past week, with many ballasters arriving from the Pacific. A degree of resistance has been seen from owners, leading to a relatively steady 1A index trend although overall sentiment remains bearish. The 1A index declined by an average of $55 per day (22/07/2011 – 01/08/2011), a total decline of $384. Reported fixtures were thin on the ground, and there remains little impetus for a sustained rise in rates anytime soon. In the Pacific the number of vessels ballasting towards the Atlantic provided some degree of stability to rates, however little change was seen in the past week, with 3A rates finding an apparent ‘floor’ at around $8,000 per day+. Overall activity remains fairly muted in what was a very quiet week, and this trend may continue unless we see some notable improvement in cargo volumes. On the period front, there was limited enquiry over the week, with just a few fixtures to report. The overall trend was one of further softening, and TESS 74 were getting fixed at around $11,000 for short period” said the report.
Finally, on the Supramax/Handy segment, the Baltic Supramax Index went down by 12 points to finish at 1,259 points last week, while the average of the time charter routes lost about $120 daily to finish at $13,161 per day. The market was active in the Atlantic, tonnage and cargoes remaining quite balanced. Supras ex South America fixed for trip to the Far East at rates close to $20,000 daily with equivalent ballast bonus. In the Med and Black Sea, we noticed some lack of requirement - sustained with interest for ships for few legs or short period. In the Pacific, EC India-China was fixing at rates close to $9/10,000 daily while China-India via Indonesia rated $11,000 daily. On the smaller sizes, the Baltic Handysize Index went down by 21 points to finish at 676 points with the time charter routes losing $328 to reach $9,944 daily. The TARV was worth $11,000 per day, whereas the Pacific round voyage was trading close to $8,500 daily. On the period front, a recently built 57,000 dwt fixed with delivery China for 4/6 months, redelivery worldwide, at $11,000 daily” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
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- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Planning Commission, India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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