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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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- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
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