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Tuesday, 07 February 12
DRY BULK MARKET FINALLY STOPS DECLINE, POSTS FIRST RISE IN MORE THAN A MONTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 After falling to near record lows, not seen since the mid-80s the dry bulk market has finally stopped its path to "hell", with the industry's benchmark, the Baltic Dry Index (BDI) managing to post its first increase in weeks. The BDI ended yesterday's session at 648 points, still near record lows, but at least 0.15% higher than Friday's closing. The market's rebound was primarily fuelled by the Panamax segment, with the relative index gaining 4.76% on the day and increasing to 726 points, which still is incredibly low. Capesizes were able to post mild gains of 0.14% to 1,438 points, but smaller sizes still suffered. Handysizes remain in deadlock, losing an additional 1.83% to just 375 points, while Supramaxes also suffer, ending yesterday’s session down by 1.32% to 600 points.
According to the latest weekly report from Barry Rogliano Salles (BRS), “it was another week of heavy losses in all dry bulk segments, but there were some signs of a reversal in the Cape market. The BDI reached 647 points, illustrating a decline of about 11% w-o-w. The BCI lost just 2% to 1,436 while the BPI lost a remarkable 15% to finish on Friday at 693. The BSI and the BHSI declined 12.5% and 10% w-o-w, reaching 608 and 382 at the end of this week respectively. The BCI showed a slight uptick on Monday, however, the first for a month, while the BPI also rose 33 points” said BRS.
Commenting on the Capesize sector, the Paris-based shipbroker said that “there were signs last week rates might finally have bottomed for the Capes, with the decline in rates slowing, and Tubarao -Qingdao showing even a small 1% uptick to $19.45. Hedland-Qingdao softened slightly however, while in the Atlantic there was very little activity on which to gauge rates. The end of the Chinese holidays did not seem to result in a sudden increase in activity, however there was talk of more Chinese buying next week. Meanwhile there were reports of a period deal for 5-7 months at $12,000 per day for a 160,000 dwt vessel. Overall the Capesize 4TC ended the week at $5,251, 6% down on the week before but only equivalent to a loss of $315. Meanwhile Monday saw the BCI rise 2 points, halting 30 days of consecutive declines” said BRS.
Meanwhile, on the Panamax front, “further declines were recorded in both Atlantic and Pacific basins last week. Limited fresh business was reported in what continued to be a market characterized by underlying bearish sentiment. Demand fundamentals in Europe remain muted, with coal demand being subdued by a relatively mild winter period thus far. The macro-economic outlook in the EU also appears downbeat, with little to suggest any imminent upturn. The 1A index declined a further $1049, settling at $4619 on 03/02/2012 (down from $15,500 on 01/01/2012). Front haul rates fared no better, with 2A index falling $1316, from $15,740 to $14,424. The limited volume of fresh business, along with plentiful supply of ballasters arriving from the East continued to weigh down on rates. In the Pacific, stockpiles of both iron ore and coal remained high at major Chinese ports, and with little in the way of fresh business post-Lunar New Year, rates also fell away (down $430 w-o-w). The one positive note at the end of the week however was a small rise in the 3A index, perhaps signifying a more balanced market heading into the new week” mentioned the shipbroker’s report.
Finally, on the Supramax/Handy markets, “they were still feeling the holiday fever last week even though the Far Easterners were back in their offices. The Atlantic also maintained a downward trend, while there was still no improvement in the numbers witnessed in the Far East. This was obviously expressed by a $1,000 decline on the average Supra TC routes last week and about -$500 on the average Handy routes. Supras went for barely $10,000 per day pro for US Gulf-East Med trips and about $6,000 per day pro for US Gulf–North American round voyages. Continent–E Med voyages followed with lower levels of about $8,500 per day pro due to the lack of cargoes in the Continent. ECSA managed with better figures than the US Gulf as we noticed fixtures at about $12,000 daily for trips to West Africa. The Far East maintained low rates as India–China trips went at about $5,500.
The Handy and Handymax were not left out, even though the Handies saw better rates of about $12,000 for ECSA-N Africa trips. Handymax saw poor rates of about $8,000 aps in South Africa with long ballasts from Singapore or India. India–China maintained lower levels of about $5,000 per day pro and similar numbers were seen for Black Sea–West Africa voyages” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
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- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Australian Coal Association
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Economic Council, Georgia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- The University of Queensland
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
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