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Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of falls, the dry bulk market is fighting for a revival. Yesterday, the industry’s benchmark, the Baltic Dry Index (BDI) kept its downward trend, ending down by 1.10 percent to 2,164 points and as a result, it has now been falling for 16 straight sessions. The index has fallen by more than 20 percent since the beginning of this demise, which was on the 28th of October.
Still, some positive development could be seen by the change of tide in the capesize market, where sentiment is coming back, as proven by the past couple of days of trading, when capesize managed to end their fall and even post some slight gains. But it wasn’t iron ore demand (which is still subdued) that trigerred the change, but instead it wal rising coal demand.
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According to Fearnley’s latest weekly report, “after a week with weaker rates and a negative sentiment, the bottom seems to have been reached in the capesize sector around low usd 10s pmt for west Australia to China and around usd 27 pmt for Tubarao/Qingdao. The main reason why we seeing rates more stable, is a more balanced supply and demand in the Atlantic and finally more TA coal cargoes. As winter is arriving, increased coal trade is further expected. However fronthaul cargoes account Vale along with spot fronthaul cargoes account Chinese is more or less none existing. Period activity and rates in general will remain dull until this change” said the report.
As for the Panamax, the “market continued its nervous tendency with rates still slipping. Last week LMEs fixed in the usd 17000 level for Atlantic biz, now with more spot tonnage open this week, the fixing levels hovering in the low usd 15000. The ballasters from India/Pacific Ocean are still fighting with the tonnage in the Atlantic for fronthaul cargoes, which pushing the rates down around $1500, to high $25000 levels. In the east the rates continued to slide, which gave Pacific rounds levels at usd 18000, down $3000. Backhauls remains more or less unchanged at $11000” said Fearnley’s.
Meanwhile, in a mid-week note released from Jeffrey Landsberg, analyst with Commodore Research & Consultancy, there’a another mention on the factor of Indian iron ore. Commodore had said early this week, that a surprising number of vessels was chartered to export iron ore form India last week, with 16 vessels in total. This represents a sharp increase from only three vessels chartered to haul Indian iron ore during the previous week and up significantly from a trailing four week average of 5 vessels. Last week actually marked the largest number of vessels chartered to haul Indian iron ore in any single week this year - an impressive feat considering the current downturn in the market.
“So far this week, only 2 vessels have been chartered to haul Indian iron ore. Indian iron ore fixture activity has returned to levels seen before last week's surge. The Karnataka iron ore export ban remains intact - but last week's surge in Indian iron ore fixtures remains intriguing. Since such a large increase in Indian iron ore fixtures came to the market, it was possible that signs were surfacing of an end to the Karnataka iron ore export ban. This is not the case yet. The Karnataka iron ore export ban continues, and the sudden surge in Indian iron ore fixtures has ended” said Commodore.
Another issue that is troubling ship owners and ship brokers alike is the speculation that China will raise interest rates, maybe even today (Friday), on an effort to tame inflation and an overheating of the econonmy. This development could very well result in a reduction of iron ore imports, which could lead freight rates to even lower ground. Meanwhile, as has been the case each times the BDI falls to new lows, some ship owners are contemplating phasing out their oldest dry bulk carriers. This could lead to an easing off of oversupply issues, which have become more evident than ever during the second half of the year.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 08 November 10
INDONESIAN HBA HAS INCREASED TO $ 95.51 PER TON FOR NOVEMBER LOADING
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Sunday, 07 November 10
THE SUPRAMAX INDEX IN THE FAR EAST CONTINUED TO BE UNDER PRESSURE - CAPT. REDDY
COALspot.com: The freight market continued to remain soft and all segments were down by almost about 6 pct.
The BDI and Cape Size index was down ...
Saturday, 06 November 10
DRY BULK MARKET LACKING SUPPORT TO SUSTAIN CURRENT LEVELS, BUT PANAMAX OWNERS ARE MORE FORTUNATE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 poi ...
Friday, 05 November 10
RI COAL EXPORT PROSPECTS STILL BRIGHT - THE JAKARTA POST
The Jakarta Post reported that, Indonesia, already the world’s largest exporter of seaborne thermal coal since 2005, will continue to be a maj ...
Thursday, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
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- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
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