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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, 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 ...
Monday, 28 May 12
COAL EXPORTS ARE JUMPING HIGHER, BUT PRICES ARE FALLING LOWER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...
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- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Australian Coal Association
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
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