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Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger ship type, the Capesize, typically used to ship iron ore and coal to China and other market, is still facing the heat of oversupply. Yesterday, the BDI (Baltic Dry Index) was 1.36% higher to 896 points, again with the support of smaller ship types, namely the Supramax and the Pamanax ones. By contrast the Capesize market was once again down by 0.85% on the day. The Supramax market inched higher by 1.82%, while Handies were also up by 1.53% to 530 points.
The latest report from shipbroker Fearnleys mentioned on the Capesize segment that “the Pacific has remained largely inactive with the exception on one Miner covering a couple of positions and managing to bring the market down in the process. The Atlantic has been equally as inactive, but there have been a few front haul fixtures at varying levels. It seems that the bottom here has been reached. Also the short period market, which had been paying a premium over the spot market, has all but disappeared” said Fearnleys.
In a separate report, shipbroker Shiptrade Services said that “in the Atlantic Basin over supply of tonnage keeps the market at low levels. The demand for iron ore and coal in Europe remains limited and this is the main reason for the negative sentiment in this region. The T/A rounds closed at levels close to 4.000 daily and the Fronhaul requirements from NCSA and ECUS and ECCA are not enough to drive the market upwards This down fall on rates was reflected on the average of TC routes which went down by USD 394 closing the week at USD 5,392. Pacific market remained stable at low levels with the round falling by USD 500, being fixed at USD 6,000. The cyclone which hit West-Australia refrained the iron ore majors from producing fresh cargoes resulting in oversupply of tonnage in the area. This preserved the negative sentiment as owners have to compete for lower rates when the production returns back to normal. Period activity was active but on lower rates around USD 10,000 levels” stated Shiptrade.
Moving on to one of the “stars” of the dry bulk market these days, the Panamax segment, Fearnleys noted that “the Panamax market has experienced some slightly positive signals the last week. We´ve seen rates coming up a bit in the Atlantic with the ECSA grain business being the main driver. We also see some more coal cargos from USEC and Baltic but the rates here are keeping somewhat flat. In the Pacific we have seen the market come off a bit with heavy rains in Aussie affecting mining and rail carriage of coal to the ports. The latter has caused vessels to start ballasting for the ECSA grain cargos in order to secure employment at decent levels. Fhauls are being fixed at around 16k + 600k GBB for ECSA and Tarvs fetching around 6k while the Pac rounds are being fixed in region of USD 7/8k. The period market is still somehow active with 1-year deals being concluded in region of USD 10,500” the shipbroker said.
On the Handy/Supramax segments, Fearnleys commented that another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US Gulf/Skaw Passero fixed tick above USD 15k. Fronthauls fixed USD 13600. The Pacific market has remained steady. For Indo-India, large eco Supra can fetch close to USD 19k bss Singapore. Premium cargoes like nickel ore are also seen fixed at USD 13k dely North China. Nopac also fixed around USD 11k dop Japan. Indian iron ore market remains quiet with less activity on WCI & ECI. WCI-China rates around USD 11k and ECI-China around USD 8k. RBCT rv fixed at APS USD 12k + BB USD 350k. Red Sea fertilisers to India are fixed high teens. Not much activity seen on short period and rates are around USD 12k for large Supra” concluded the shipbroker in its report.
Similarly, Shiptrade said that “in the Atlantic it was a positive week with the transatlantic increasing at USD 8,000 mainly due to more cargoes coming out in the market especially from ECSA where, after a long time, some sugar parcels came to remind owners that grain season is about to begin. This was reinforced by some movement in orders from West Africa to Continent or Far East which relieved ECSA from ballasters. USG and Continent remained at flat rates with low volume on cargoes while rates ex Black Sea have been raised up a bit. The front haul trips remained at similar levels than last week averaging at around USD 13,750. On the other side, Pacific round was fixed at much better levels of USD 7,500 mainly due to increased coal exports from Indonesia and the whole South East Asia region. Back haul trips were mainly done ex Thailand to West Africa with bagged rice but yielded low returns for the owners thus many refrained from coming back to Atlantic than suffering losses. Vessels opened at East Coast India preferred to ballast towards Singapore for a trip to China of PG. Period activity was extremely slow as owners found no reason to fixing at such rates” it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
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- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
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