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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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Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
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- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- The University of Queensland
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
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