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Thursday, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, resulting in higher earnings for larger Capesize vessels. As a result, yesterday, the BDI (Baltic Dry Index) was up by 3.59 percent, reaching 722 points. The Baltic’s Capesize Index (BCI) was the biggest gainer, as it was up by an impressive 7.16 percent to 1,421 points. As a result of this, average daily earnings for Capesize vessels, typically used to transport coal and iron ore to China, reached $5,896, increased by $890 on the day. Traders and charterers indicated that China is on the process of iron ore restocking, as a result of higher steel prices.
According to Fearnley’s latest weekly report, commenting on the Capesize market, the shipbroker mentioned that “finally activity and rates picked up pretty good, as rates for west Australia to China improved from USD 7 to 7.35 and then to 8 in three days. The latter was for early dates, but still sending positive signals. For front haul, the index is presently at USD 19.50 - with owners rating around the 20 mark. And short period, which last week was fixed at USD 8000/low USD 8000, is presently USD 9000 (last done)” the report said.
By contrast, on the Panamax market, the Baltic’s Panamax Index was once again down by 1.27 percent to a mere 428 points, with oversupply of vessels being the key reason here, plaguing the market. As a result, average daily rates for the 60,000-70,000 vessels are now just $3,723 according to the Baltic Exchange.
Fearnley’s said on the Panamax market that it was “another week with softening rates in the Atlantic. Owners looking to cover their positions for an RV are now facing levels below USD 2k. These levels are well below Opex and some owners are reluctant to even do this and dropping anchor hoping to catch a big tuna instead. Front hauls are being fixed around 11-12k. In the Pacific, however, some positive remarks where rounds now are being fixed at ard USD 5k. China officials have announced approvals for a USD 100 billion stimulus package involving 25 new subway lines and thousands of kilometres with new high ways. This could lead to improved shipments of iron ore and coal for the future and might be what we are waiting for” the shipbroker noted.
On the Handy markets (Supramax and Handymax/Handysize vessels), Fearnley’s stated that “not a bad week for Supramax tonnage, if we compare Supramax developments to the bigger size tonnage. The rates have basically remained unchanged this week and only the front haul voyages from Baltic/BlSea were valued bit less by the comparison to last week numbers. Scrap cargoes from Baltic and Cont to East Med paid decent money at around USD 14/15k/day. USG to FE stems were paying in the region of 18,500/day. Average of TC routes finished at USD 8840, what a remarkable number compared to Panamax average. Pacific market became firm since last week with more cargoes and tight tonnage for spot cargoes. Indo-India rounds were around USD 12k bss Singapore dely. Nopac rounds were fixed at USD 8k dely dop Japan. Indian iron ore activity was quiet. WCI-India rounds were done at USD 7k and ECI-India was fixed at USD 5k. RBCT rounds were done at USD 8k + BB 250k bss APS. Red Sea fertilisers were fixed in high teens. Short period rates for large eco Supra were around USD 9k” the report said.
On a similar note on the Supramax size, Piraeus-based shipbroker Shiptrade & Services had noted that “Supramax market remained rather steady in low levels as the BSI index closed at 834 increased by 2 points than last week. Transatlantic rounds were seen closing at USD 4000 levels whilst there were some fixtures ex USG basis delivery Continent at USD 12000 levels. Most fronthaul trips were fixed at USD 15000 levels. In the pacific basin, market was surprisingly improved a little due to lack of spot positions. Thus we saw some fixtures for Indonesian rounds basis delivery Singapore at USD 10000 levels. NOPAC rounds were seen closing at USD 8000 levels basis DOP Japan. India as far as iron ore market is concerned, remained quite with fixtures ex India to China were closed at USD 7000 and USD 5000 for WCI and ECI respectfully. Red Sea fixtures with fertilisers to India were closed at USD high teens. Short period also remained quite with some fixtures at USD 8000”.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 24 June 24
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
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