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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 during the past 10 consecutive sessions, bringing the industry’s benchmark, the Baltic Dry Index (BDI) down to 878 points yesterday, losing another 26 points or 2.88 percent, which is the lowest since March. The Baltic's capesize index fell by 3.54 percent to 1,252 points with average daily earnings for capesizes, dropping to $4,526. Similarly, The average daily earnings for handysize and supramax ships fell to $8,912 and $10,539, respectively. Finally, Baltic's panamax index dipped 2.23 percent to 877 points, while their average daily earnings fell $162 to $6,976.
In its latest weekly report, shipbroker Fearnleys noted on the Capesize market that history is made as this segment hits its absolute lows so far this year. With average spot earnings falling another 15% w-o-w to come in at USD 4500/day and demand continuing to be far from sufficient to employ a growing fleet, tonnage keeps piling up in all areas. Atlantic is taking the hardest hit, as ore and particularly coal exports have to a large extent become paralyzed by traders panicking in their efforts to sell cargoes already loaded and bound for China. An ongoing Euro crisis coupled with negative news from the Chinese steel industry gives no reason to expect conditions to improve near-term - clearly reflected in FFA levels - and rates for modern 175,000-tonners are now down to well below USD 10k for 5-8 months mentioned Fearnleys.
On the Panamax market it noted that we left last week on a slow note, and continued into this week with the same pace. London was closed on Monday and Tuesday which contributed even further. We hear rumors of at least 30 Panamaxes just lying outside China fully loaded with coal. The traders are not able to sell it due to record high stockpiles in Chinese ports. A few fronthaul orders surfaced in the market and vessels willing to go FEast still achieved quite good rates, whilst transatlantic biz is scarce with most being done on aps or voyage basis. Charterers are rating vessels around 8k for transatlantic biz, and about same levels for Baltic rounds. In the Pacific the rates are low and not a lot of orders in the market. Indo and Pac rounds are paying around 5k. The period market is not very active as few owners are willing to charter out their vessels at the low rates chrtrs are currently offering. Would put short period around 8k for LME´s said Fearnleys.
On the Handy markets, the shipbroker stated that with holidays in some European countries start of the week and Posedonia at the same time, it resulted in less activity compared to last week. Continent positions fetched tick above USD 5k for US Gulf redelivery, and US Gulf fixed close to USD 25k back to Cont. Fronthauls hovered at around USD 19k. The Pacific market has been slipping with still bottom to be found. For Indo-India, large eco Supra now fixed at USD 5k + BB USD 60k basis APS Indonesia. Nickel ore cargoes are not seen in the market anymore due to on-going Indo ban which has again taken away cargoes and putting pressure on the market. Nopac also fixed basis APS at USD 10k + 300k BB. Indian iron ore market remains quiet with less activity; WCI-China rates around USD 8k and ECI-China around USD 5k. 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 9k for large Supra concluded 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
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 ...
Wednesday, 06 June 12
INDONESIAN GOVERNMENT'S DECLARED COAL PRICES CONTINUING ITS DECLINE
COALspot.com - Indonesian HBA fell to lowest level since January 2011 in June 2012. The monthly coal reference price for coal sales this month ...
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- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
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