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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, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Planning Commission, India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- White Energy Company Limited
- GMR Energy Limited - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
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