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Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 points yesterday, as a result of stronger demand for Capesizes, ships of up to 180,000-200,000 tons used to haul cargoes like iron ore and coal. The respective BCI (Baltic Capesize Index) was up by 79 points to 1,369, while almost all ship types were higher on Wednesday. It was just the Handysize market which was practically unchanged to 716 points.
In its latest weekly report, shipbroke Fearneys commented on the Capesize market by stating that “the Cape market has been slowly but surely coming back over the past week with C4TC pushing up by USD 2k on the spot level and USD 1k on mtd. With a slow end to the week and start to this one the Atlantic basin has finally got a more positive feel with some positional tightness and very few ballasters arriving in the next few weeks, C3 levels are again back over the USD 18 level. The Pacific has also shown upwards momentum with C5 back over the USD 7 level, a relief to owners that it is clawing back from the mid USD 6 level it has been down too in the past couple of weeks, this is due to more activity from the major miners on this route. There has been a little period activity seen as the market ticks up, around the USD 10k-11k level seems about the current level” it noted.
On the Panamax front, Fearnleys noted that “stimulated by a steady flow of fresh spot requirements, predominantly in the Atlantic, the market has firmed up to higher levels at higher volumes. In the western hemisphere a tighter tendency pushes rates closer to 10k for T/A rounds and upper teens for fronthaul as most owners hesitate to go east. The sentiment remains positive in the Pacific with rates climbing to 8k for NOPAC and 10k for ECSA rounds bss Singapore delivery. Assisted by the optimism takers are looking for efficient tonnage for period at around 8k for short period and upper 9´s for about 1-year period. The forward curve is not moving considerably as long term demand vs. supply fundamentals remains gloomy” it noted.
Finally, on the Handy front, the report mentioned that the “Supra market in the Atlantic climbed slowly during the last week, with fresh cargoes entering the market. Cont/US Gulf fixed tick above USD 5k/day, while US Gulf/Cont concluded close to USD 27k/day. Fronthauls ex Cont were paid around USD 23600, while tonnage ex Canakkale fixed around USD 24500. The Pacific market has seen increased activity and rates are getting firm on Indo and Nopac rounds. For Indo-India, large eco Supra now fixed at USD 8k basis North China dely. Some owners also asking for mid-teens for SE Asia dely. Nopac also fixed at USD 9k basis Japan. Indian iron ore market remains quiet with less activity on WCI & ECI. WCI-China rates around USD 8k and ECI-China around USD 5k. RBCT rv fixed at APS USD 10k + BB USD 360k. Red Sea fertilisers to India are fixed high teens. Not much activity seen on short period and rates around USD 10,500 for large Supra” Fearnleys concluded.
In an update on the market, Commodore Research & Consultancy mentioned that “in June, various parts of southern China (which is where the majority of China’s hydropower is produced) received more than double the amount of rain that historically occurs every June. A large part of southern China normally receives 200 to 250 millimeters of rain every June. This past June, however, several parts of southern China received 400 to 500mm of rain.
Chinese hydropower production has been able to continue to surge as a result of the heavy rainfall. Most recently, Tropical Storm Doksuri made landfall on Saturday and helped pushed month-end rainfall totals over 400mm in many areas. *The surge in hydropower production will continue to put pressure on Chinese thermal coal demand*. Southern China has largely recovered from drought, and we believe hydropower production stands a good chance of setting a record in July or August” it noted.
Source: Nikos Roussanoglou, Hellenic Shipping
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- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Economic Council, Georgia
- PTC India Limited - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
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