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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 (BDI) has failed to rise and instead has kept falling since the end of the previous week. Yesterday, the BDI was down by 3.65% or 36 points to 950 points. It was the seventh consecutive day of falls. The Panamax segment was the biggest loser, with the respective Baltic Panamax Index (BPI) retreating by 3.87% to 969 points, as a result of lower fixture activity in both the Atlantic and Pacific basins. Apart from the Panamax market, things are also grim in the Capesize front, with the Baltic Capesize Index retreating by 2.54%, with average daily earnings falling to just $5,292, which is the lowest in two months.
Commenting on the Capesize market, shipbroker Fearnleys mentioned in its latest weekly report that it has been heading “towards all-time lows again, as worldwide spot demand shrinks on a series of negative developments in fundamentals. With China now failing to deliver as far as raw materials imports are concerned, combined with a steady flow of new tonnage ex yard, sentiment is gloomy and the situation cannot be described as anything but dramatic. Average spot values are down 33% w-o-w, daily returns for fronthaul have dropped USD 4k to come in at USD 22k, and Pacific rounds are down 20% to USD 5600 - for those ships that are lucky enough to find cargo at all. Paper values have fallen dramatically, putting an effective stop to most period fixing - with the exception of 170k/2009 spot Singapore reportedly done for 12 months at USD 12,500 to major Europeans” said Fearnleys.
In a similar note, Shiptrade Services stated earlier that “the Atlantic market saw a significant decline on rates mainly due to lack of new requirements combined with the large volume of tonnage at the area. This was reflected on the transantlantic round which fell by USD 3,500 ending up at USD 5,000 as well as on the fronthaul trade which reported a reduction of USD 3,500 closing the week at USD 24,500. The Tubarao/Qingdao route was fixed below USD 20 pmt!, decreased even more than 50 cents. The same negative sentiment in the Pacific basin. The Australian iron ore trade showed minor movement leading the rates to downturn. Period activity remained silent with rates remained steady at around USD 12,250 levels” it mentioned.
Regarding the Panamax market, Fearnleys noted that “the week started with holidays in most European countries and in the US. With everyone back on Tuesday it was a very slow start and the market took yet another dive. It is a limited number of fresh requirements in both hemispheres and owners are starting to ballast into an already troubled Atlantic market. The ECSA grain market, which has kept the Atlantic alive the last couple of weeks, now face softening rates as the ballasters starts to appear ready for June loadings and volumes are low. TArvs now paying around USD 7-8k and the fronthauls are being fixed in the mid teens. In the Pacific as Chinese stockpiles are reported to be full and imports are slowing down rounds are being fixed at around 5k. The period market seems to evaporate as Owners ask under 8k for short period but takers are holding back and hardly anything has been done” it concluded.
On the Handy/Supra markets, Fearnleys noted that it was “another week of few signs for recovery in the Supra segment. Transatlantic voyages kept more or less stable with US Gulf positions fixing at tick below USD 25k/day. Vessels open in Skaw/Gibraltar range willing trip towards the US Gulf were paid around USD 5k. Fronthauls fixed around USD 18k/day. Pacific market has been weak and falling due to lot of prompt available ships and lack of cargoes. For Indo-India, large eco Supra now fixed at USD 6k + BB USD 60k basis APS Indo. Nickel ore cargoes are not seen in market anymore due to on-going Indo ban which has again taken away cargoes and putting pressure on market. Nopac also fixed basis APS at USD 10k + 300k BB. Indian iron ore market remains quiet with less activity on WCI & ECI. WCI-China rates around USD 9k and ECI-China around USD 7k. RBCT rv fixed at APS USD 11k + BB USD 300k. Red Sea fertilisers to India are fixed high teens. Not much activity seen on short period and rates around USD 10k for large Supra” stated Fearnleys.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
Friday, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS
Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's ...
Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market ...
Thursday, 07 June 12
COAL EXPORT TAX NOT RATIONAL: MINISTER - THE JAKARTA POST
Trade Minister Gita Wirjawan has criticized as irrational the idea to restrict coal exports by imposing an export tax, According to The Jakarta post ...
Thursday, 07 June 12
BY 2022 PLN IS EXPECTED TO BURN AROUND 125 MILLION TONS OF COAL
COALspot.com - Indonesia's state owned electricity company's (PLN) coal consumption is expected to reach 125.7 million tons by 2012.
Nur Pamudj ...
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- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Australian Coal Association
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
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