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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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- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Economic Council, Georgia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
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