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Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1.89% to 972 points. The Baltic's capesize index was up five points to 1,145 points, with average daily rates for capesizes up $66 at $3,486. The Baltic's panamax index gained 0.37 percent, with average daily earnings up $31 at $8,699. Average daily earnings for handysize and supramax ships were also up, at $10,111 and $11,980, respectively.
In its latest weekly report, shipbroker Fearnleys said on the Capesize market that “another dismal week passes with Cape rates falling marginally. There is resistance to a further fall, but this is related to the bunkers having stabilized, thus there is little or no room for a further fall. Talks of Major Japanese owners considering cold layup of parts of the fleet, is good news, but more will need to follow if the market is to improve. The major operators continue to roll over their fleets, redelivering expensive vessels, and fixing in cheaper ones, thus we see continued activity for short period, with big optionality spreads. Volumes in both iron ore and coal are good, but there are just too many ships entering the market” said Fearnleys.
In a similar report, Shiptrade Services mentioned that “in the Atlantic market, the fronthaul closed at USD 18,750 reporting a decline of USD 1,750 mainly due to the absence of fresh cargoes and the heavy competition of tonnage at the area. The same reason affected negatively Transantlantic round which ended up at USD2,750 recording a downfall of USD 500. The same negative sentiment prevailed in the Pacific basin with the Far East round trips closed at USD 4,000” it stated.
On the Panamax front, Fearnleys noted that “the European crisis is not over after the Greek election. Demand for coal and steel production is down considerably from last year in the Western hemisphere. Added by a question mark to Chinese imports both for coal and iron ore, the overall sentiment is not only affected by oversupply. The Atlantic is fine-tuned but toppish with a steady flow of fresh requirements and less open positions. Rates hover at 10k for a T/A round and 17k+ for a long trip out. Driven by SE Asian coal the owners finally get a better return in the Eastern hemisphere. 7-8k average for rounds and five figures obtainable for ECSA rounds basis India/Singapore range. Period activity is low but levels have come up to 9-10k depending on delivery and specs. Owners are reluctant to relet longer period despite a flat almost non-moving forward curve for the next 12 months” it stated.
Similarly, Shiptrade mentioned that “after the slow beginning of the week with lack of fresh cargoes and quite a few owners inevitably ballasting their vessels to Atlantic region, we saw some movement and a hint of pessimism mainly in the midweek with some very attractive rates. Transatlantic round closed at about USD 9,5/10,000 whilst fronthauls were fixed at levels of USD 17/18,000. In the Pacific basin this week started rather more aggressively. Indonesian and Australian cargo trading moved in satisfactory levels whereas NOPAC overall picture was not much positive in a continuation of last week’s low levels. However, we saw a respectful increase in the coal market on the Indo-South China route. As far as numerical terms are concerned, Indonesian and NOPAC rounds were fixed at the region of USD 5,5/6,000 and the period market also moved more or less at the same levels of USD 6,000” the Piraeus-based shipbroker noted.
Finally, on the Handy markets, Fearnleys stated that “slightly positive tendency for Supras in the Atlantic. Skaw deliveries fixed. Close to USD 6k, vs. low USD 5k last week for direction US Gulf. Return trips fixed USD 26k, up another USD 1k from last week. Fronthauls climbed steadily during the week, with prompt positions fixed USD 22k, up about USD 2k in a week. Rates for Supras open in SE Asia are firmer for prompt dates. Indo rounds can achieve USD 7-8k. A 57k dwt fixed USD 9k dop Thailand for an Indonesian coal cargo to EC India. Rates to WC India would be higher. There has been a force majeure declared at the iron ore loading port of Mormugao, which along with the prevailing monsoon will further pressurize rates. WCI-China rates are around USD 8k, slightly lower for S.African rounds, ECI-China rates are around USD 6.5k. Supras for short period is trading around USD 9.5k delivery China. Supras in the Red Sea are rating just under mid-teens for trip to India with ferts. There have been limited Nopac enquiries” the report concluded.
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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- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
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