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Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, the BDI (Baltic Dry Index) ended yesterday down by 0.26% to 1,152 points, but still 24,5% higher than the previous month, on the back of the recent recovery. The latter was fuelled by the Panamax segment and the start of the grain season in Latin America, which helped the dry bulk market retrieve most of the part lost since the start of the year, when the market experienced a near record collapse, as a result of too many new ships entering the global fleet. Yesterday, the Capesize market was practically unchanged to 1,495 points, up by 1 point on the day. The same applied to the Supramax, as well as the Handysize segments, which were also up by just 1 point to 1,099 and 601 respectively. The only losing part of the market was the Panamax with a fall of 20 points to 1,693 points.
In its latest weekly report, shipbroker Fearnleys commented on the Capesize market by mentioning that " the Cape market has continued to be depressed. The Pacific is weaker and rates from Western Australia have fallen to USD 7.40 from about USD 7.60 + last week. The front haul market has also fallen to about USD 20.70. The only bright spot is the US coal that has become competitive in the Chinese market and several sales have been concluded with tonnage ballasting from the Far East. This is due to the continued lack of tonnage in the Atlantic, with the few ships that are open preferring to continue to trade within the Atlantic. Short period has also been quiet with only a couple of fixtures done at a suggested level of USD 12k per day, which is still a significant premium to the spot market" said Fearnleys in its report.
Meanwhile, on the Panamax market, it mentioned that " the Panamax market has experienced a major upturn the last couple of weeks. This trend has now stopped, and it might only be short lived correction until rates will keep on firming. The trend has been driven mainly by coal cargos with India and China being the 2 major buyers of same. We believe this will continue for a while as the prices for US coal are historically low for the Chinese. India announced that they would need to import about 15 million mt more coal, and this will again tie up tonnage and make the Atlantic more tight. Tarvs are now fixing around USD 16k while the Fhauls are being concluded at a strong 22/23k per day. In the Pacific, rounds are being fixed at around USD 11-11.5k. The short period market has seen some deals being concluded at around 11.5/11.8k for Pacific delivery" said the report.
Finally, on the Handy markets, Fearnleys noted that "stable demand in the Atlantic offered good rates for the tonnage. USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to be nice places as well and paid FE destinations in excess of USD 18k/day for Black Sea/Aden able vessels and over USD 16k daily for Baltic carriers. Short period in the Atlantic stayed almost unchanged at USD 15/16k levels. Pacific market has softened due to on-going holidays and extended weekend in FEast. For Indo-India, large eco Supra can fetch close to USD 8k bss N.China. Nickel ore cargoes are seen fixed at USD 10k dely N.China.
Nopac also fixed around USD 9k 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 7k. Some ECI Supras have been ballasting to pick up Indo cargoes as well. RBCT rv fixed at APS USD 11k + BB USD 350k. Red Sea fertilisers to India are fixed high teens. Not much activity on short period and rates around USD 12k for large Supra" it concluded.
In terms of newbuilding business reported, it's worth noting that 8 firm ships reported this week, 6 of them LPG carriers. "There seems to be a positive consensus in the relative quite sector of LPG newbuildings. Pricewise, it seems the market is moving sideways with no big surprises. Although yards are searching high and low for new business, they remain steady at current price levels" stated Fearnleys.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
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- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Planning Commission, India
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- White Energy Company Limited
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- The University of Queensland
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
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