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Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the Supramax Index rising by 22 points, as rates for supramaxes were up by $229 to $12,852. Similarly, average daily rates for Handies were higer by 440 to $10,334. Capesizes also moved to higher ground, as the Baltic Capesize Index was up by 14 points, or $170, with average daily rates now at $3,826. By contrast, the Panamax market has kept on falling, as average earnings yesterday were set at $7,815.
In its weekly report, shipbroker Fearnleys noted on the Capesize market that “bunker prices have stabilized at lower levels and the freight market has seemed to have stabilized, with the exception of the Atlantic which is dismal. The usual large operators have continued to turn over their fleets at stable rates (just below USD 10k daily). The front haul market has also hit a bottom, and is now flat. We do not expect any major movement in the rates and any changes are more likely to be related to bunker cost than to the basic supply and demand picture” it said.
In the Supramax/Handysize markets, Fearnley’s noted that «the Supramax market is still looking very healthy compared to the other sizes of tonnage. In the Atlantic supply of fresh orders helped the rates to reach the range of USD 24-25k for the voyages from USG/ESAM to Continent and Med. Period activity focused mainly on 3/5 or 4/6 months employments for which vessels were paid USD 8.5/10k daily based on the delivery in the East. Pacific market has been steady and looking to remain firm in coming days as rates are getting firm on Indo and Nopac rounds. For Indo-India, large eco Supra now fixed at USD 9k basis South China dely. Some owners also asking for low teens for SE Asia dely. Nopac also fixed bss at USD 10k basis Japan. Indian iron ore market remains quiet with less activity on WCI & ECI. WCI-China rates around USD 8k and ECI-China around USD 5k. RBCT rv fixed at APS
USD 10k + BB USD 350k. Red Sea fertilisers to India are fixed high teens. Not much activity seen on short period and rates around USD 9k for large Supra” the report noted.
Finally, on the Panamax front, it noted that “even though there were fresh cargoes entering the Atlantic it is not sufficient to have any major effect on the rates due to the growing list of available ships. In the Med, the tonnage list is shorter, perhaps giving owners the idea they might achieve good rates, however it is simply not a demand for prompt vessels in this area. More cargoes are appearing in the Atlantic for end July dates, however this is of no comfort to the many owners with prompt positions. Tarvs now being fixed in region of USD 8k. The ECSA market is served by ballasters from India and the Feast were they achieve rates around USD 14.5+475k BB basis APS delivery. Pacific market is quiet but rates seem to be quite stable with Aussie and Indo RV being the prominent trades. As for Nopac, the grain cargos are quite scarce. Rates for rounds are around 5-6k. The period market finds little support and few fixtures are reported this week. Short periods like 4/6 mos are being paid in region of 9-9.5k for Feast delivery” Fearnley’s concluded.
In a relative note, Commodore Research noted the effect of the recent weather conditions (heavy rainfall) in Southern China, with regards to the dry bulk market. Commodore mentioned that Chinese hydropower production has continued to surge and is putting added pressure on demand for thermal coal. With drought conditions finally seeing real improvement, it is possible that hydropower production will approach record levels within a few months. Panamax rates have been most affected by the decline in demand for imported thermal coal cargoes and are poised to come under additional pressure” mentioned the US-based analyst.
It added that “to make matters even worse for upcoming thermal coal demand prospects (and better for hydropower production prospects), southern China is now expected to be hit by another tropical storm. Tropical Storm Doksuri is currently situated east of the Philippines and is expected to head on a northwesterly track towards China. As of now, Tropical Storm Doksuri is expected to make landfall near Hong Kong on Saturday and bring a very large amount of rain to southern China over the weekend. Hydropower production will benefit if the storm continues on its projected path and makes landfall as planned. As hydropower production increases, there will be less demand for thermal coal” the company concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
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- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Economic Council, Georgia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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