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Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% to 1,446 points. Capesizes and Panamaxes have been the stars so far, with the Capesize market gaining 4.08% and the Panamax one returning to rising levels by an equally impressive 4.39%. Of course, one should take into account that traditionally this time of the year, the dry bulk market experiences its highest seasonal demand, which could help justify this week’s rise. But, on the other hand, oversupply issues haven’t just “magically” gone away and will keep on pressing the market and causing high rate volatility.
Yesterday, brokers and analysts alike were speculating that behind this week’s rise, is the potential decommissioning of some vessels.
“No owner’s going to continue doing business at $4,000 a day or $6,000, below operating costs,” said Hendrik Leusink, division executive for capesize and panama vessels at Island View Shipping SA, South Africa’s biggest commodities shipping line.
Quoted by Bloomberg he mentioned that “people will put ships into temporary lay-up or idle ships.” Operating costs for the vessels are between $7,500 and $8,000 a day, according to estimates from London-based Simpson Spence & Young, the world’s second-biggest shipbroker. Capesizes were below that level from April 11 to May 19.
In its latest weekly report, Fearnley’s mentioned that finally there were some good news for Capesize ship owners, even though rates in general are at a historic low and fundamentals have changed very little over the week. “Driven almost entirely by increased transatlantic coal trades and a steady volume on the Brazil/China iron ore run, average spot levels are up more than 50% to come in at close to USD 9k. Pacific is slow and eventless in comparison, though, with resultant levels for the WAust/China ore run only marginally up at USD 7.35 pmt which is still below opex. Expectations are there for this to last a little longer, thus more period fixing is expected - last done is 178kdwt/built 1998 done for 10-14 months at USD 10700/day basis delivery Qingdao mid June” said the report.
In the Panamax market, “after a slow start to the week, we saw more cargoes in the market on Tuesday with both coal from US and grains from ECSA. Especially the Pacific basin took a turn on Tuesday evening with chrts chasing prompt ships which were lacking. NoPac rounds were fixed at around 14k and still climbing, while the Atlantic rounds were fetching around USD 15k. Fronthauls hovering around USD 250k. It has been some short period activity this week with rates hovering around 13/14k. It was also rumored a kmax being fixed and failed for 3 years at a tick more than USD 14k” mentioned the shipbroker.
Finally, for the smaller ship types, “rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnage on ppt /beg of June positions. US Gulf to the Far East is slowly but surely firming further and more activity seen on transatlantic round voyage. ECSA is balanced with very little movement on rates. Outlook: stable. The Pacific market remains soft and owners unwilling to come in India due to lack of outbound cargoes. For Indo-India, Supras in North China are getting close to 12k. Nickel-ore rounds are getting firm rates in mid-high teens from Indonesia.
WCI-China rates slided to 15k and from ECI around 12k. Red Sea; ferts on handymax/ Supras are fixed at very mid 20´s pmt on voyage basis to WC India. Large Supras for RBCT/India round are now asking 15k. Short period deals done at mid-teens for large Supras” concluded Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
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- Latin American Coal - Colombia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
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