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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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Wednesday, 21 September 11
2ND ANNUAL SHALE GAS SUMMIT
2nd Annual Shale Gas Summit 31 October – 3 November 2011 JW Marriott Hotel, Hong Kong
According to a recent EI ...
Tuesday, 20 September 11
MTD INAUGURATES ITS COAL TERMINAL IN JAVA ISLAND
Press Release – MTD Group of Malaysia, one of prominent key players in the development of infrastructure in Malaysia, today inaugurated their ...
Monday, 19 September 11
CHINA IMPORTS MORE THAN 10 MMT INDO COAL IN AUGUST 2011
COALspot.com - Indonesian coal exports dropped 1.642 million tons in August compared to July exports. Indonesia exports 29.662 million tons of coal ...
Monday, 19 September 11
INDOMOBIL ENTERING INTO COAL MINING BUSINESS
COALspot.Com- PT Indomobil Sukses Internasional Tbk, part of, one of Indonesia's largest conglomerates, to enter into mining industry ac ...
Sunday, 18 September 11
THE COAL IMPORTS TO INDIA, OUT OF INDONESIA LIKELY TO PICK UP - CAPT. REDDY
COALspot.com - The freight market continued the upward trend until midweek almost touching 2,000 points, however towards second half of the week the ...
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- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Australian Coal Association
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
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