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