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Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), which yesterday ended down by 14 points or 1.21 percent at 1,146 points. The relative Capesize index was 3.77% lower to 1,428. As a result, average daily rates for Capesizes fell to $7,321. It’s worth noting that average Capesize rates have plunged by more than 70% since the beginning of the year. By contrast, the Panamax Index was up by 1.29% to 1,175 points. As a result, average daily earning for panamaxes were up by $112 to $9,364.
Commenting on the Capesize market in its latest weekly report, shipbroker Fearnleys said that “an active Pacific market with a good number of fixtures ex West Australia. However towards mid this week, demand was lower and fresh inquiries less spot, immediately resulting in freight rates dropping 0.5 cents. In Saldanha, there will be maintenance in August, and no new stems are expected before 24th of August. For the fronthaul, rates have been steady for the July stems fixed until now as supply of tonnage (early ballasters) was tight. As we are moving into August dates however, it is expected freight rates will soften’’ it noted.
On the Panamax market, Fearnleys noted that “it has been an uplifting, yet fairly quiet week in the Panamax segment with decent levels achieved. The firmer tendency is clear in the North Atlantic which is tight for tonnage for prompt requirements. Some owners are now asking USD 14k daily to perform TARV´s, whereas only a few weeks ago similar trips would fix around 10k daily. ECSA/Feast deals are still being done at healthy levels. Owners able to obtain around 15-16k + 500k gbb basis APS or around 10k daily basis delivery Singapore for ECSA/Feast grain biz. In the Pacific, business is also picking up and better rates are being reported above 9k for Indo and Nopac rounds. Aussie rounds have reportedly been fixed at around USD 8k daily. In the period market not many fixtures reported, but we see both charterers and owners talking around USD 9-10k daily for 3-5/4-6 months up to a year on LME´s. A Kamsarmax has fixed about 2 years at 10,700 delivery Black Sea ex yard mid-August said the report.
On the Supramax front, a recent report from Piraeus-based Shiptrade & Services mentioned that «having the US National Holiday last week, the market was steady slow. Trips from USG to Med/Continent were fixed at USD mid/high 20’s whilst fronthauls were fixed at USD 30,000. Trips from West Africa to Continent/Med were done at USD mid teens basis delivery West Africa and there were also some fixtures from Continent/Med to ECSA and USG at the area of USD 8,000. Fronthauls from Continent were seen closing at about USD 24,000.
The scene in the Pacific Basin relatively slow with most Indonesian and NOPAC rounds closing at USD 8,000 basis delivery China, and some closing at USD 9,000 basis delivery Japan. Indonesian coal trips to India were fixed at USD 8,000 whilst those from ECI to China were closed at USD 5,000 levels. As far as short period market is concerned fixtures were seen at the area of USD 10,500” it said.
Finally, on the Handy market front, Fearnleys concluded its analysis by stating that rates in the Atlantic kept more or less stable from last week, with Continent/US Gulf concluded at around USD 5000, while US Gulf/ Continent paid close to USD 27k. Ships with same delivery for Turkey got fixed at USD 28k with scrap. Fronthauls were hovering about USD 24k for Continent delivery, while rumors said vessels open US Gulf fetched USD 26k p/d. India is slow now with limited activity. Owners will see around mid USD 10k basis South China on a 52k dwt vessel for one trip to full India range. The Indian iron ore market remains quiet with less activity on WCI & ECI as monsoon arrives. India/China tct rate would be around USD 6k. Red Sea fertilizers to India are fixed high teens. Not much activity seen on short period and rates around USD 10k for large Supra it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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- Bhatia International Limited - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Australian Coal Association
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
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