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Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the BDI (Baltic Dry Index) was down by 1.11% to 1,874 points, with Capesize leading the way. The Baltic Capesize Index (BCI) was down by 1.45% to 3,188 points, but smaller vessels fared better. The Panamax market was up by 0.49% to 1,840 points, while the Supramax market increased by 0.14% to 1,383 points.
According to the latest weekly report from Paris-based shipbroker Barry Rogliano Salles (BRS), there were positive gains for most of the segments this week, the exception being the Handysizes. A mixed bag of trade news this week: India reported a sharp increase in coal imports for the period April/Oct, up 50% against the previous year, after shortages in the
domestic market pushed up imports. The same could not be said of iron ore exports, with India reporting a 25% drop in exports in the same period (Apr/Oct). In China, coal imports fell to 15.7m tonnes in October from the country’s record high of 19m tonnes in September following the build up of large stockpiles by power plants. However the country’s iron ore imports are currently on track to be +10% higher than last year, with 560m tonnes imported Jan-October” said the shipbroker.
Referring to the Capesize market, BRS noted that it was a “surprisingly strong week for the Capes, driven almost exclusively in the early part of the week by the fronthaul trade which saw a gain of around 8%, with rates firmly over $28 pmt. The end of the week also saw a surge in miner activity out of Australia, and Pacific rates represented this on Monday. The Atlantic was less active, and rates remained flat or dropped. Overall the BCI rose nearly 3%, while the four time charter average rose 4% to $28,340. In the FFA market, quotes for Nov/Dec remain fairly firm, averaging $23,537 per day. However the market is predicting a quick decline in rates in the New Year, with January trading at just $15,042” said the report.
Meanwhile, on the Panamax front, “the Atlantic market ended the week on a far more balanced note. Increased cargo volume out of USEC and USG provided much needed support and stimulus to a market which recently recorded a fortnight of steady declines in the face of growing tonnage supply and limited prompt business. The 1A index recorded a gain of $578 over the course of the week to close on 18th November at $16,647 per day. There are signs of continuing tightening in tonnage supply although a degree of caution should be exercised as any sustained rise in rates will be dependent on their further fresh business entering the market. Fronthaul business out of the Gulf followed a similar pattern, pushing by $1,151 in the latter half of the week. Overall sentiment proved more resilient than in preceding weeks, although again a degree of caution should be exercised in light of the slow start to the new week beginning 21st November. The Pacific market recorded a steady rise over the week, with the 3A index pushing up by $592 to close at $12,197.
Despite improved sentiment however, this needs to be considered in light of a growing supply of prompt tonnage which may place a brake on any sustained rise in the coming days. Reportedly high stockpiles of coal and iron ore at major Chinese ports could imply that recent demand from industrial end users has been driven primarily by a desire to exploit recent declines in the prices of these commodities rather than reflecting strong underlying fundamentals. The short period market for 4/6 months ended the week at around $13,750-$14,000 per day, whilst one year rates ended the week flat at around $13,500 per day” mentioned BRS.
Finally, on the Supramax/Handysize segment of the market, the shipbroker said that its bottoming in the East has prompted numerous Charterers to come out with period enquiries. “Larger Supras got fixed at middish/high $11,000 for short period with delivery China. Some more coal orders have caused the market to at least stabilize, even if at a low level. The average Pacific round voyage rate is now hovering around $8,000/8,500 for a Tess 52. Recently the notion is spreading that also the numbers of handysize orders are on the rise there. An Imabari 28 type should be worth now around $6,500 for an average Pacific trip.
In India there have been a few more iron ore orders seen in the market but in general the market is highly unattractive for Owners. Therefore Charterers with business destined to this area have to dig very deep into their pocket. Supras are now being fixed in excess of $30,000 dely Med for trip to PMO/ India range. Modern Handies can not be fixed below high teens basis dely Skaw/Passero to Suez/Japan range. In ECSA the rates have softened. Supras open West Africa do not get more than $20,000 anymore for outbound trips via ECSA. In the USG Supras can still demand low/mid $30,000s while Handysize rates have come down to mid/high teens for trips to Skaw/Passero range” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
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- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
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