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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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Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
Thursday, 26 April 12
BUKIT ASAMS 1Q OPERATING PROFIT MARGIN HAS INCREASED BY 6% TO RP. 1 TRILLION
COALspot.com - PT. Bukit Asam (Persero), the Indonesia’s state owned coal miner's 1Q, 2012 revenue has increased by 31% to Rp. 3.02 trillion ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- London Commodity Brokers - England
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