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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 $12,000 for ships delivered in India trip via South Africa to China” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
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 i ...
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- Economic Council, Georgia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- The University of Queensland
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
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