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Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, with a few exceptions. It’s true that from mid-March and up until the end of April, the industry’s benchmark, the Baltic Dry Index (BDI) managed to recover the losses it sustained during the first couple of months of the year, when it plunged to multi-decade lows. But, as it turns out the past couple of weeks, the BDI has been unable to inch forward, remaining relatively flat.
During the course of the previous week, the BDI rose by 0.3% last week, with the Capesize index increasing by 1.2%. The largest gainer was the Handysize index, which was up by 3.7%. By contrast, the Panamax Index fell by 3.6%, while the Supramax Index was down by 0.4%. Iron ore inventory at Chinese ports was mostly flat, price moved lower on risk-off. Steel stockpiles fell further, but remained at elevated levels while price moved marginally lower. Thermal coal inventory rose, while prices remained unchanged in the Chinese market.
Yesterday, the BDI was unchanged at 1,141 points with very few movement across the board. The Capesize Index was down by 7 points to 1,626 points, while the Panamax Index also fell by 5 points to 1,269 points. On the other hand, the Supramax Index was up by 5 points to 1,113 points and the Handysize Index was up by 5 points to 644 points, recovering from the lows of the beginning of the year.
In its latest weekly report, shipbroker BRS noted that in the Capesize market, “there was some firming in the Pacific this week with Hedland-Qingdao reaching $7.75, a 2.5% increase on the previous week. However elsewhere the picture was less active - an increase in the Atlantic mid week evaporated by the end of the week and rates finished on Friday little changed or slightly down. Tubarao-Qingdao also eased off, losing around 1% to finish at $20.30. A decline in coal fronthauls has removed what had otherwise been a good boost to the market. Overall the 4TC ended slightly up at $8,841, a rise of $246 over the week, while in the paper market, June, Q3 and Cal13 reported modest losses, losing -$300, - $200 and -$300 on the week. The 4TC recorded a 64 point drop on Monday” it said.
Meanwhile, as it mentioned “the Panamax 4TC market eased by $400 per day this week and closed at around $10,200 on Friday. The only route that gained ground was the fronthaul round which traded close to $19,000 and takers were keen to fix for minerals out of Cont and grain out of ECSA and even USG. In the Atlantic and Pacific, ships were traded at $12,000 and $8,000 respectively ($1,000 less than the week before) and the short period was paying a touch over $10,000 for ships delivery North China redelivery worldwide. The Indian market eased this week with the monsoon hitting the west coast, pushing vessels that were open in the area to ballast to ECSA where they were getting paid close to $10/11,000 dop basis” it mentioned.
Finally, on the Supramax/Handy size markets, it noted that “the BSI was very stable last week, losing only 4 points, but if we analyse what happened in both basins, we note a completely different scenario between the Atlantic and the Pacific. US Gulf/Skaw-Passero gained 10% Friday to Friday to finish the week at $22,135; on the Continent there is a small number of Supramaxes available for spot loading, and for scrap to the East Med Supras are asking about $15,000 while high teens are being done for redelivery Singapore/Japan. In the south Atlantic, the picture is different: there is more prompt tonnage available, and Supras are getting fixed in the $12,000 range for delivery West Africa TC trip via ECSA with redelivery Med, and about $18,000 for redelivery Far East. The Pacific market has been rather subdued this week and has led to time charter rates plummeting. The falling rupee has applied the brakes to Indian coal imports. In addition, the approaching monsoons have all but stopped the export of iron and mill scale. Freight for Indo/WCI is now close to $13 pmt, equivalent to a fall of almost 40% in a month. The Indonesian nickel ore ban, combined with the increased taxes on coal, has led to lower export volumes. This is further hurting an already depressed market” it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
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- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Planning Commission, India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- The University of Queensland
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Minerals Council of Australia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
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