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Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Index (BDI) posting its first fall in five sessions, ending down by 1.30% to 1,744 points, thus retreating for a year high of 1,767 points. The Capesize market which led the gains in the previous weeks, reaching its highest level since December of last year, was the main loser yesterday, with the Baltic Capesize Index dropping by 2.39% on the day to 2,938 points. Capesize earnings had previously reached average daily earnings of $24,575. Still though, all other dry bulk shipping segments were on a high yesterday, with the Panamax market gaining 0.73% to reach 1.657 points (Baltic Panamax Index).
Still, already since yesterday shipbrokers had been doubtful about whether this latest surge would be sustainable. George Lazaridis, head of research with shipbroker Intermodal was quoted by Reuters as saying that “many have been sceptical about the whole recovery process. Essentially it has been the capes none of the others (ship segments) have shown any major recovery. There were much more (capesize) cargoes and fixtures reported but there are also so many vessels working around these areas. It is doubtful that rates can continue on for too long” said Mr. Lazaridis.
Commenting on the Capesize market, shipbroker Fearnley’s said yesterday in its weekly report that “after a strong rise in the market towards the end of last week, this week started with definite signs of strength. This was due on the back of a very tight September market. Presently the pressure is off September positions and both basins have fallen. The West Australia market has fallen from USD 10.90 level to USD 10.25, and the Brazil to China market has fallen from upper USD 27.00 to about USD 25.00. Sentiment is for a further correction of the market. The T/A market is still firm as continued tight tonnage supply seems to be the norm. On the period front there has been a significant rise in what charterers are willing to pay for early vessels, and there is renewed confidence with vessels being fixed for 2 or more years at improved levels. Today you can secure USD 17-18k short period” said Fearnley’s.
On the Panamax front it said that “western Hemisphere is suffering from a downturn vs Eastern Hemisphere still riding on an upturn. The scenario is not (only) from world economy but also from the Panamax freight levels this week. Spot positions in the Atlantic struggle due to lack of sufficient requirements and rates are sliding towards 13k/day for T/A rounds. Fronthaul business is limited with some minerals and grain cargoes fixable around the 21k mark. In the Far East lack of prompt tonnage in certain areas have given fuel to the market, supported by a rising Cape market. Nopac rounds achievable above 14k/day. Short period activity loosing some of its recent steam in the mid 13 range as the forward market took a breather early week” Fearnley’s said. In a separate report, Shiptrade Services mentioned that “the week began quietly rates softened just a bit across both basins. In the Atlantic region, we witnessed a lack of fresh inquires, combined with a growing supply of tonnage availability, which pushed rates downwards. Rates for Transatlantic round began from USD 14.750 per day and eventually concluded at USD 14.500per day towards weeks closing. On the Fronthaul trade rates declined at levels around USD 21.500 per day at weeks closing. The Pacific market started quietly as an effect of holidays in Singapore. Indonesia was quieter in terms of volume of fixing and rates for Pacific round drifted close to USD 10-11.000per day for vessels open N.China, or USD 12.000per day basis passing Taiwan. Rates for trips Ex Nopac increased at rates around USD 13.000 per day basis N.china/Japan range (M/V Nikolaos 75500/09)” commented Shiptrade Services.
It went on to analyze the Supramax market saying that “After two weeks with increased activity, market seems losing steam. In the Atlantic basin, the USG region is slowing down with fewer cargoes emerging the market and rates started dropping. Supramaxes reported fixed at USD high 20’s per day for trip to F.East. On the ECSA, rates for trips back to Continent/Mediterranean were at USD 14-15.000 basis W.Africa delivery, while for trips to F.East some fixtures reported at USD 20.000per day. In the pacific, market drifted as a result of the Ramadan holidays in Indonesia. Many Owners lowered their ideas in order to cover their vessels. Nickel ore parcels were scarce, but there were some coal parcels with the majority of them destined to India. Rates for trips to India were at USD 11-12.000per day, while we saw reported a modern Supramax fixed at USD 10.000per day basis delivery Karaikal, for 1 trip via Indonesia back to India. Vessels open in N.China/ Japan were more interested for NOPAC but rates were close to USD 9.000 per day” concluded the shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
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- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
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