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