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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 $5,000 per day pro and similar numbers were seen for Black Sea–West Africa voyages” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
Monday, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
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- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- VISA Power Limited - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
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