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Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are constantly evolving and changing. The Baltic Dry Index (BDI), the industry’s benchmark, fell yesterday to its lowest in more than three weeks, ending the session down to 1,400 points, retreating by a total of 0.85%. The main reason was the weaker capesize activity, with shipbrokers reporting lower demand. As a result, the Baltic Capesize Index fell by 2.19% to 1,694 points, while a smaller fall of 0.6% was also noted in the Supramax segment. The only “survivor” of this latest downfall of the market, has, so far, been the Panamax market, which is steadily outpacing the oversupplied Capesize one. Panamaxes were higher by 1.28% yesterday to 1,975 points.
In its latest weekly report, Paris-based shipbroker Barry Rogliano Salles (BRS) said that the past week was characterized by yet more instability, with the Capes, Supras and Handies losing ground, and the Panamax gaining, a pattern carried on in this week as well. “Stockpiles of imported iron ore at China’s major ports rose by almost 1% this week to a new high of 93.43 million tonnes. It follows a 0.8% increase in imports in May to 53.3 million tonnes compared to the previous month. Despite government efforts to curb overheating, and low profit margins for the industry, production at China’s steel mills remains robust. The mills produced a record 60.25 million tonnes of steel in May. Demand is expected to stay strong until July, when the quieter summer season begins. Power rationing could also curb some activity between June and September” said BRS.
On the Capesize market, it said it’s been “a quiet start to the week saw rates drop in the Pacific, and then subsequently spread to the Atlantic. Overall the BCI dropped nearly 11% to 1735, with Atlantic routes taking the biggest hit. In the Pacific, Tubarao-China was fairly busy but ultimately rates dropped around 5% w-ow, and out of Australia there was a good flow of cargoes, but even here the oversupply of tonnage pushed rates down slightly by around 3%. The 4TC finished on Friday at US$9,320 per day, down from US$11,773 the previous week. The BCI dropped 12 points on Monday, and there was uncertainty about the future direction of the market” said the shipbroker.
As for the best performing market, the Panamax one, “Friday to Friday, the Panamax market rose by US$1,300 in the Atlantic (US$16,800 per day) and $1,400 in the Pacific (US$14,500 per day). In the Pacific, the Indo and Australian coal cargoes were keeping prompt vessels active, giving some fresh air to owners. Out of India, however, iron exports were less active and vessels were not achieving more than US$12.50 pmt basis ECI/China route. In the Atlantic, the number of available ships was much less than a month ago and this basin seemed to have found a real stability. Period wise, the market has been extremely quiet throughout the week mainly due to a weak forward FFA market. Rates for short period remained stable at around US$14,000/14,500 per day for short period dely North China redelivery worldwide” noted the report.
Finally, on the smaller ship types of the Supramax and Handysize class, BRS mentioned that “the Baltic Supramax Index came off last week from US$15,004 to US$14,009, mainly driven by the eastern side due to the oversupply of vessels in the Pacific and the start of Indian monsoon. A 56,000 dwt was fixed for a Nopac round last week at US$13,500 daily, while a week later a 52,000 dwt was fixed at US$10,000 for a similar trip. Supramax have been fixed from India to China around US$9,000 daily compared to a week earlier when it was around US$12,000. The worst we noted was a Supra fixed spot China to ECSA at US$6,500 daily. The Atlantic remained stable due to a good activity in USG and ECSA, in particular a 58,000 dwt was fixed at US$28,800 from USG to Cont. In the smaller sizes, the Baltic Handysize slightly decreased by 16 points to reach 749, while the average of the TC close at US$11,110. Handysize were fixed in the high teens from ECSA to Cont, and similar numbers have been seen from USG. The Black Sea saw a lack of activity this week but rates remained ok with a modern 28,000 dwt fixed at a good rate of US$7,500 to USG, while other vessels were fixed at US$10,000 to Wafr. In the East, rates are decreasing slightly and a 37,000 dwt was fixed for a Nopac round at a similar rate as Supramaxes at US$10,000, in line with the Baltic index. Only one fixture has been reported from India to China for a 33,000 dwt, also at US$ 10,000.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
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- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- The University of Queensland
- Mercuria Energy - Indonesia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
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