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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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Saturday, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
Tuesday, 12 June 12
ITACHA RESOURCES BUYS SARANA MARINE - INSIDER STORIES
Insider Stories reported that, coal mining company PT Itacha Resources, a joint venture between Anthoni Salim and Glenn Yusuf, announced that Itacha ...
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- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
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