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Tuesday, 09 August 11
DRY BULK MARKET UNABLE TO FIND UPWARD MOMENTUM, SLUMPS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 They same that what goes up must come down and nobody seems to have found a better application of this expression, than the beleguered dry bulk market, which has plunged to new lows yesterday, at 1,264 points, down by 0.32%, since the end of last week, when the Baltic Capesize Index (BCI) had managed to edge forward by 3%, despite all other ship segments being traded further downwards. In fact, the Panamax market was down by 2% and so was the HandySize segment of the market. in the start of the week, the Capesize market went further down to 1,793 points, a fall of 0.61% on the day, while the panamax segment was marginally lower by 0.14% to 1,476 points.
According to the latest weekly report on the dry bulk market, issued by Paris-based shipbroker Barry Rogliano Salles, “in India the country’s Supreme Court partially lifted an iron ore mining ban imposed last week in a key region of Karnataka state, allowing state-owned NMDC to mine up to 1m tonnes per month from 6 August. NMDC will start production from two of its existing mines located in the Bellary district. The Supreme Court had imposed an interim ban on July 29, citing environmental degradation. Many Indian steel companies have already been affected by the ban, with JSW Steel cutting capacity due to lack of supplies, while Tata Metaliks said it could shut its plant in Maharashtra state if supplies do not normalise” it said.
Referring to the Capesize market it mentioned that “it finally picked up this week after a month of declines. Moves by Rio Tinto to take up to 10 ships in the Pacific pushed rates up there 5%, and more cargos are expected in the coming weeks. The Atlantic was more varied, with Tubarao-Dunkirk rising 4%, but the fronthaul trade from Brazil-China barely shifted. Overall the BCI rose 3% to 1,804 points while the four time charter moved from 9,408 to 10,032 points, a rise of over 6.5%. This has not yet taken Cape operators into a safety zone however and there are still concerns over positive returns in a market with so many ships avilable. In the FFA market, there were also positive gains, with August/September and Q4 prices increasing by 5.1% and 2%. However the positive sentiment faded somewhat by the end of the week, and the BCI fell 11 points” said BRS.
On the Panamax market it mentioned that “in the Atlantic, it was a quiet week overall, with reported fixtures remaining thin on the ground. Having said this, tonnage supply remained high and rates were under pressure due to limited fresh cargoes coming into the market. The 1A index declined by $425 (29/07/2011 – 08/08/2011), reflecting a continued bearish outlook, and prospects will remain this way unless we see a notable improvement in cargo volumes. For the Pacific, despite a slight improvement in cargo volumes at the beginning of the new week, overall activity remained muted with little fresh business to be had. The impact of many ballasters sailing away towards the Atlantic in recent weeks has merely slowed down the rate of decline on the 3A index, with levels hovering above $8,000 per day. The outlook appears relatively flat for the time being, however there is some hope that improved cargo volumes will spur rates on given that open tonnage is a touch tighter than in previous weeks.
There were very few period fixtures were reported this week, with rates remaining fairly consistent from the previous week” said the report. Finally the Supramax/Handy market “has been so unpredictable during the last few weeks that we noticed little or no change. The Supra index showed a steady - 5 point difference between Monday and Friday, while the Handies saw an insignificant drop of -1. We noted some grains, scrap and fertilizer cargoes out of the continent to Med, East Med and ECSA respectively. Handies were fixed at about $11,000 for trips from the Continent to North Africa, and about $14,000 to East.
Handymax saw slightly higher figures of about $15-16,000 for trips from continent to east Med/Black Sea range. The US Gulf maintained a steady flow with very firm rates. Supramax went at about $28,000 per day pro for trips to East Med and slightly higher figures of about $32,000 per day for Far East destinations. Handymax went for about $23,000 for trips to East Med. We saw more grain cargoes out of the Black Sea but this has still not yet had an impact on the market as Handymax went for about $10,000 per day for a trip from Emed to west Africa.
The south Atlantic market showed stronger numbers on the fronthaul as Handies went for about $17,000 Brazil-Far East voyages while Supras went at about $18,000 for trips via west Africa to Far East. The Far East market maintained a steady flow as Supras went at about $13,000 for China-Indo trips and about $12,000 for ships delivered in India trip via South Africa to China” 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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- MS Steel International - UAE
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
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