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Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to plunge to more than one-month lows, ending the session down to 1,859 points, or by 2.77%.
All shipping segments were down yesterday, with the Capesize market sustaining the biggest losses by 3.23%. The Panamax market was down by 1.20%.
According to the latest report from Shiptrade Services, after the previous weeks’ steady increase, the market turned downwards with Capesizes suffering the most. Commenting on the Capesize market, it mentioned that “the week began positively, but lack of cargoes in the Pacific forced Owners to lower their levels, or start ballasting towards the Atlantic.
Atlantic basin was active, with good cargo volume mostly coming ex Brazil.
Rates for Transatlantic rounds concluded at USD 34.000 per day, while on the Fronthaul trade, rates for trips to F.East, levels concluded at USD 49.000 per day. On the Tubarao/Qingdao trade rates were fluctuating between USD 30.00 – 30.50 pmt but week’s closing rates softened as an effect of the ballasters from the Pacific.
Pacific basin was quiet due to the absence of the iron ore majors but Owners could see a few alternative cargoes ex S.Africa / W.Canada. Rates softened, and at weeks closing, rates for the Australia/China trade concluded at USD 11.00pmt, while on TCT basis, rates for Pacific round concluded at USD 25.000 per day basis N.China delivery” said Shiptrade.
In a separate report Fearnley’s said that “after a relatively long period with improving rates, the Cape market experiences a correction mid last week. Rates kept dropping throughout this week, with West Australia/China being done just bellow usd 10 pmt. Tubarao/Qingdao was done last week around usd 32 pmt, the lowest done this week is just below usd 25 pmt. The drop in spot rates has resulted in less period activity with chrtrs aiming around mid teens, a level perceived to be of non interest to the owners. The rest of the week is remained to be quiet with Eisbein going on in Germany” said the report.
On the Panamax front, the Nordic-based shipbroker it said “fair activity with mineral requirements in the North Atlantic from USEC and Baltic catering for healthy levels as market is tight for prompt loaders. Fixing levels in the 20´s for Baltic rounds, upper teens for TA rounds. Less activity and weakness in the USG and ECSA from an increasing number of
ballasters appears from the Med and Far East. Levels for trip out hovering in the 26 + 600 range basis APS. In the Far East activity is low, tonnage lists grow, and rates are under downward pressure. NOPAC rounds 12500, period activity scant. The general sentiment is losing confidence from a slow and descending forward market” said Fearnley’s.
Shiptrade Services mentioned that “Panamax rates dropped slightly since the cargo volume was not enough to cover the available tonnage. In the Atlantic basin, the USG market remained the driving force, especially for the Fronthaul cargoes with fixtures at USD 26.500+650.000 GBB basis APS USG. Rates for Transatlantic round remained at USD 17.500 - 18.000 per day. In the Pacific basin activity remained flat with many Charterers waiting for rates to drop further. At week’s closing, rates for S.China/S.E.Asia positions interested for
Indonesia round, concluded at USD 14.000 – 14.500 per day. Positions at N.china/Japan range interested for trips ex NOPAC could get USD 13-14.500 per day” said Shiptrade.
On the Supramax trades the Piraeus-based shipbroker mentioned that “the market followed the same trend, with less cargoes and rates dropping. In the Atlantic basin, we could notice a decrease in the number of cargoes, but some areas were more attractive. In the USG region rates for trip to continent/East Mediterranean remained steady close to USD 30.000 per day, while for trips to F.East fixtures reported at USD 38.000 per day.
On the Mediterranean/Bl.Sea market, rates for trips to F.East held around USD 24 - 25.000per day, while rates for trips to USG were between USD 9 -10.000per day. On the ECSA region, vessels concluded at rates close to USD 18-19.000per day + 400.000 ballast bonus basis APS ECSA delivery for trips to F.East, and for trips to Continent/Med rates concluded at USD 16-17.000per day. In the pacific basin, rates dropped, as there were not many cargoes from Indonesia, and many Charterers preferred not to move and see how the market will proceed.
Some fixtures concluded to direction India but levels were fluctuating between USD 8.000 – 11.000per day. On the other hand, for the N.China positions, a few cargoes ex NOPAC remained an attractive solution at rates of USD 12.000per day (M/V Prabhu Jivesh 50956 / 02’)” concluded the shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
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- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
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