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