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Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Index (BDI) posting its first fall in five sessions, ending down by 1.30% to 1,744 points, thus retreating for a year high of 1,767 points. The Capesize market which led the gains in the previous weeks, reaching its highest level since December of last year, was the main loser yesterday, with the Baltic Capesize Index dropping by 2.39% on the day to 2,938 points. Capesize earnings had previously reached average daily earnings of $24,575. Still though, all other dry bulk shipping segments were on a high yesterday, with the Panamax market gaining 0.73% to reach 1.657 points (Baltic Panamax Index).
Still, already since yesterday shipbrokers had been doubtful about whether this latest surge would be sustainable. George Lazaridis, head of research with shipbroker Intermodal was quoted by Reuters as saying that “many have been sceptical about the whole recovery process. Essentially it has been the capes none of the others (ship segments) have shown any major recovery. There were much more (capesize) cargoes and fixtures reported but there are also so many vessels working around these areas. It is doubtful that rates can continue on for too long” said Mr. Lazaridis.
Commenting on the Capesize market, shipbroker Fearnley’s said yesterday in its weekly report that “after a strong rise in the market towards the end of last week, this week started with definite signs of strength. This was due on the back of a very tight September market. Presently the pressure is off September positions and both basins have fallen. The West Australia market has fallen from USD 10.90 level to USD 10.25, and the Brazil to China market has fallen from upper USD 27.00 to about USD 25.00. Sentiment is for a further correction of the market. The T/A market is still firm as continued tight tonnage supply seems to be the norm. On the period front there has been a significant rise in what charterers are willing to pay for early vessels, and there is renewed confidence with vessels being fixed for 2 or more years at improved levels. Today you can secure USD 17-18k short period” said Fearnley’s.
On the Panamax front it said that “western Hemisphere is suffering from a downturn vs Eastern Hemisphere still riding on an upturn. The scenario is not (only) from world economy but also from the Panamax freight levels this week. Spot positions in the Atlantic struggle due to lack of sufficient requirements and rates are sliding towards 13k/day for T/A rounds. Fronthaul business is limited with some minerals and grain cargoes fixable around the 21k mark. In the Far East lack of prompt tonnage in certain areas have given fuel to the market, supported by a rising Cape market. Nopac rounds achievable above 14k/day. Short period activity loosing some of its recent steam in the mid 13 range as the forward market took a breather early week” Fearnley’s said. In a separate report, Shiptrade Services mentioned that “the week began quietly rates softened just a bit across both basins. In the Atlantic region, we witnessed a lack of fresh inquires, combined with a growing supply of tonnage availability, which pushed rates downwards. Rates for Transatlantic round began from USD 14.750 per day and eventually concluded at USD 14.500per day towards weeks closing. On the Fronthaul trade rates declined at levels around USD 21.500 per day at weeks closing. The Pacific market started quietly as an effect of holidays in Singapore. Indonesia was quieter in terms of volume of fixing and rates for Pacific round drifted close to USD 10-11.000per day for vessels open N.China, or USD 12.000per day basis passing Taiwan. Rates for trips Ex Nopac increased at rates around USD 13.000 per day basis N.china/Japan range (M/V Nikolaos 75500/09)” commented Shiptrade Services.
It went on to analyze the Supramax market saying that “After two weeks with increased activity, market seems losing steam. In the Atlantic basin, the USG region is slowing down with fewer cargoes emerging the market and rates started dropping. Supramaxes reported fixed at USD high 20’s per day for trip to F.East. On the ECSA, rates for trips back to Continent/Mediterranean were at USD 14-15.000 basis W.Africa delivery, while for trips to F.East some fixtures reported at USD 20.000per day. In the pacific, market drifted as a result of the Ramadan holidays in Indonesia. Many Owners lowered their ideas in order to cover their vessels. Nickel ore parcels were scarce, but there were some coal parcels with the majority of them destined to India. Rates for trips to India were at USD 11-12.000per day, while we saw reported a modern Supramax fixed at USD 10.000per day basis delivery Karaikal, for 1 trip via Indonesia back to India. Vessels open in N.China/ Japan were more interested for NOPAC but rates were close to USD 9.000 per day” concluded the shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
Tuesday, 06 September 11
INDONESIAS PROPOSED COAL EXPORT BAN MAY HAVE IMPACT ON THE INDIAN POWER SECTOR - DIPESH DIPU
COALspot.com - This is a special interview about Indonesian proposed coal export ban by 2014, with Mr. Dipesh Dipu, Director of Deloitte Touche Tohm ...
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- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Planning Commission, India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- The University of Queensland
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
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