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Tuesday, 20 September 11
DRY BULK MARKET LOSING ITS EDGE, RETREATING AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 After a surge during the past couple of weeks, which saw Capesize earnings boosted and the BDI (Baltic Dry Index) reaching levels of year high and close to 2,000 points, it seems that the signal was given late last week and early this week for a swift retreat. Yesterday, the BDI, the dry bulk market’s benchmark was down by 2.76% to 1,764 points, hot on the heels of last Friday’s fall. The biggest fall was recorded in the Capesize segment, with the Baltic Capesize Index (BCI) losing 5.35% to end at 2,847 points. The Panamax market meanwhile was also down, but by a far less aggressive 0.69% to 1,734 (Baltic Panamax Index).
According to the latest weekly report from Paris-based shipbroker Barry Rogliano Salles (BRS), “bulk rates continued to rise in the early part of last week but a sharp correction on Friday saw all sizes lose points, most notably in the Cape segment which fell nearly 260 points. The drop ended seven consecutive week-on-week gains for the Capes. Overall the BDI finished the week at 1,814 points, a 1% drop on last week, while the BCI and BHI were also in the red, finishing at 3,008 points (-5.6%) and 677 (-0.9%) respectively. The Panamaxes and Supras showed gains however rising to 1,746 points (+3.6%) and 1,446 points (+3.2%). In the newbuilding market, we note a sharp slowdown in ordering activity this year, with just 32m deadweight of dry bulk tonnage placed, around half the amount contracted at this stage last year. Orders continue to tick over, due in part to the relatively low newbuild prices on offer, with one Chinese yard offering a rumoured $30m for a kamasarmax. However, the head of Jiangsu-based New Century Shipbuilding claimed this week such low prices would only be available for another 6 months or so as yards would soon be forced to refuse ‘at cost’ business” said BRS.
Commenting on the Capesize market it said that “despite a good start to the week, Capesize rates showed a sharp decline by Friday, with the market posting its first weekly fall in 7 weeks. Again the Atlantic showed greater firmness, losing around 4% on the main routes, while Aus-China and Bra-China saw declines around 6-7%. It was a mixed bag of news for the market, with the mining companies taking plenty of tonnage in the Pacific. However paper prices started to drop as early as Wednesday which appeared to have a knock-on effect on the physical. After trading at $23,700 last Friday, October FFA prices have now dropped to $19,200 per day and November to around $16,500. On Monday the BCI dropped another 160 points and the 4TC was recorded at just over $23,000.
Regarding the Panamax market, the shipbroker’s report said that it increased overall by $500 per day on the 4TC average. “This positive trend mainly came from the Atlantic basin where the USG grain fronthaul cargoes started to be marketed, leading to a decrease in the open tonnage position (although still important); the fronthaul route gained $1,000 per day to close at $22,500 per day. The TA round activity was however quieter with ships fixing in the low $14,000s per day. In the Pacific the market kept stable at very close to $14,000 for the Nopac round and the number of ships decreased in the area. Out of India, the monsoon will be over within 2 weeks which should lead to an increase in iron ore exports. The Goa/China route was paying $14 pmt, 50 cents better than a week ago. On the short period front, the numbers were topping during the week and PMX LME were fixed at around mid $14,500 per day, $500 below that a week ago” said the shipbroker.
It went on to mention that “Supramaxes were well in demand except in India where rains were still ongoing. The Monsoon is expected to end during the next few weeks which might result in more activity there as well. But owners can hardly complain about other regions. The East has been quite active after the holidays in the beginning of the week. Mid/high teens are achievable for an index Supramax for Indonesia/India coal business. We shall see if that remains the case, should fixing activity in India really increase. USG/China rates are now hovering around low $32/33,000s for bigger units while a TESS 52’ is still worth around $20,000 for a trip out with delivery West Africa.
The Handysize segment shows a mixed picture with not much good news for owners in the Atlantic. A lack of sugar cargoes caused rates to continue to decline in ECSA. A modern 28,000 dwt is now fixable in the low teens aps Brazil to Skaw/Passero. Even worse news emerged from the USG where two relatively modern 28,000 dwt vessels were reportedly fixed at below $10,000 aps for trips within the Atlantic. All the while, in the Far East demand supported higher rates and much more period interest as well. Modern 32,000 dwt vessels are being negotiated for short period around $13,000 with delivery SE Asia” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 23 September 11
ICMA TO BUILD UPGRADE FACILITIES TO ANTICIPATE BAN ON LOW-GRADE COAL EXPORT BY 2014
COALspot.com - January to August of this year, Indonesia’s coal production had already reached 235 million tons. Earlier estimates had targete ...
Friday, 23 September 11
UT TO PRODUCE 7 MMT OF COAL BY 2012
PT United Tractors Tbk is targeting a 7 million tons of coal production next year, a 55.55% increase from 4.5 millions targeted this year, said Pres ...
Friday, 23 September 11
RECORD RECYCLING ACTIVITY STIRS OPTIMISM IN DRY BULK SAYS BIMCOS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected at the start of the year, dry bulk ship owners were expected to flock scrapyards around the world, in order to take advantage of attract ...
Friday, 23 September 11
PANAMAX EXPERIENCED A SOFTENING IN RATES - FEARNLEYS AS
Handy
Still a good boost of fresh cargoes entering the market. Vessels in Black Sea with GOA clearance and Baltic positions are fetching tick abov ...
Wednesday, 21 September 11
INDIA'S COAL IMPORTS FROM INDONESIA FALL, CHINA BUYS MORE
COALspot.com - Indian coal imports from Indonesia fall to below 6 million tons in August, and this fall was continuing last few months. Ho ...
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- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- The University of Queensland
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
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