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Tuesday, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on the start of the week, ending the session at 1,132 points. The Capesize market lost 0.12%, practically stable compared to end of the past week. The Panamax market was once again the main losing one, with the Baltic Panamax Index (BPI) retreating by 1.74% to 1,299 points. By contrast, the Handysize segment of the market continued its rebound, to end the session up by 1.14% to 623 points.
In a recent note, Commodore Research & Consultancy, commented on the ongoing decline in regional thermal coal export prices. “Indonesian, Australian, and South African thermal coal prices have all been coming under steady pressure since March. During the same time period, however, domestic Chinese prices have remained basically flat. *Outside of China, regional thermal coal prices are now at their lowest levels since late 2010*. The very attractive regional thermal coal import prices (and approaching peak summer demand season in China) will likely result in Chinese coal imports setting a new record within a few months” said Commodore.
In a separate weekly dry bulk report, shipbroker BRS mentioned that it was a second week of corrections for the Panamax market, and the BPI dropped 13.4% to 1322 points. Conversely the Capes rose slightly to 1614 (2.4%). The BSI was practically unchanged at 1112 (-0.5%) and the BHI moved up 2.3% to 616 points. Regarding the Capesize market, the shipbroker noted that “there were overall gains for the Cape market but it was a mixed picture. The 4TC rose to $8,660, a rises of 10%, but gains were only in the Atlantic and conditions softened again at the end of the week. By week-end Aus-China was assessed at $7.55 and Bra-China at $20.55, while rates in the Pacific actually came off. Overall activity was sluggish, and gains were partly attributed to the rise in the FFA market the previous week. There was some correction in the paper market last week, with rates shaking out by Friday to $10,250, $11,650 and $14,250 for June, Q3 and Cal13 respectively. The 4TC fell 65 points on Monday” said the report.
Regarding the Panamax market, it stated that “the Atlantic basin came under further pressure this week, with a significant proportion of May business seemingly being covered. Charterers appeared more willing to watch and wait for further developments before committing to the market, with bid/offer spreads on TA rounds remaining stubbornly apart. Combined with this, the overall tonnage supply remained fairly high, and as a result the 1A index dropped back from $15,088 to $13,144 w-o-w, with sentiment remaining soft moving into the new week.
Business ex ECSA has also slowed down markedly over the past week, downshifting the 2A index from $20,543 to $18,083 w-o-w. Owners appear less willing to reposition their tonnage towards the Pacific due to high tonnage supply there, along with softening demand fundamentals in both coal and iron ore markets. Pacific rounds are being reported in the region of $9,000 per day now, with the index reflecting this trend to close down at $9157. There appears some scope for further declines across both Atlantic and Pacific basins in the coming week, although possibly not quite at the dramatic rate we have seen the past week or two” it mentioned.
Finally, on the Supramax/Handy markets, it was “another relatively quiet week, and one which saw a public holiday in the UK on Monday. The Supramax market saw Atlantic and Pacific basins diverge further as an active South American grain market countered falling cargo volumes in the East. Fronthaul business remains on a positive footing indicated by a 55,000 dwt vessel taking $19,000 per day from WAF, via ECSA to the Far East on Friday. S2, the NOPAC index, saw its values fall by 5.2% over the week however many participants see this as being a tame decline given the market sentiment - the 54,000 dwt “Nicolaos A” fixed CJK/New Zealand at a lofty $11,000 in the early sessions of the week. For the larger sizes, trade from the USG has been somewhat dour, however Handy owners operating in this routes have benefited from an increasingly active Trans-Atlantic trade which pushed the index over 6% week-on-week” it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Xindia Steels Limited - India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
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