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Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benchmark in terms of tracking freight rates, the BDI (Baltic Dry Index) to an almost 1-year low of just 1,013 points, effectively erasing the gains made during the final months of the previous year. The BDI lost an additional 3.8% yesterday with no ship type escaping the general downward trend. Capesizes were down by 2.44%, while Panamaxes led the losses, by retreating by 4.59%. Similarly, Supramaxes were also on the downside, by 2.27% compared to Friday's session.
In a note, Clarkson Research Services said that the freight rate for a Capesize vessel has fallen a total of 22% in just two weeks, the biggest fall since 2009, when the shipping industry was faced with a global recession. One-year time charters for capesize vessels slid to $17,000 a day in the two weeks ended Jan. 13, against $21,875 in the prior period, said Clarkson.
Commenting on the Capesize market, the latest weekly report from Paris-based shipbroker Barry Rogliano Salles (BRS) said that "Capesize rates saw heavy losses for the second week, with weather-related disruption in Brazil and Australia adding to the market’s problems. The Capesize 4TC finished the week at $9,116, which takes it back beneath the Panamax 4TC and the Supramax 6TC. Australia’s ports have slowly reopened, while Vale has downplayed the impact of its declaring force majeure on the grounds that it represents just 1% of its output. However the combination of these issues, and the forthcoming Chinese New Year, suggests there is little to prompt an upward correction in rates. Monday saw another slide, with the 4TC losing $618 to $8,498. In the paper market, February and March were trading at $9,433 and $10,267 by Friday afternoon" said BRS.
Meanwhile in the Panamax market, the shipbroker mentioned that "last week marked the beginning of a strong drop in Panamax rates. What everyone expected finally happened and we saw the indices freefall every single day with no positive sign for owners. The 4TC lost $2,000, going from $12,020 per day to $10,075/day. In 1Q 2012 the same number of Panamaxes delivered in 2Q+3Q+4Q 2011 will in theory be delivered according to our last updates. On top of that, a relatively warm winter across Europe has impacted negatively coal demand and stocks in China are still at a high level as we head into Chinese New Year.
In the Atlantic, the TA index dropped to $10,731 from $13,341 the previous week, while the market was already below $9,000/daily. The outlook is still bearish as ballasters from the east keep hammering the Atlantic market. The transatlantic rate is now equal to the 4TC, instead of being at a 10%-15% premium as in normal market conditions. In the Pacific, it was the same story. Rates dived from $8,895/daily to $7,398/daily with the 1year TC rate basis delivery North China at around $11,000/daily. The market was very calm there before the
Chinese New Year. On a positive note, coal prices are losing some ground and might push China to move to imported coal. However looking at stockpiles, the discount should be significant" said BRS.
Finally, on the Supramax/Handy front, the shipbroker said that "all countries were back to work for this second week of the year and the market continued its way down… The BSI lost 12.6% to close the week with an average of the TC routes at $10,154. Prompt positions were available in all areas. The strongest drop was noticed out of the US Gulf where the route USG/Skaw-Passero lost 21.6%; a 57,000 dwt vessel was fixed at $18,000 aps USG redelivery Italy, whereas redelivery Far East was done in the mid $20,000s. It was the same situation on the Continent where a Supra was fixed at about $13,000 for scrap from ARAG to the East Med, while same was done at $16,000 the previous week. In the Pacific, the volume of orders is reducing with the approach of the Chinese New Year. The market has become sluggish with stems of iron ore from India becoming increasingly rare. The dollar appreciation against the rupee has also led to fewer Indian coal Imports. Supras from Indonesia to India have now dropped $1,000 in the last week, to reach the low $6,000s, while Supras from India to China are now getting about $8,000" concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
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- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Bhatia International Limited - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
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