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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, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
Friday, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
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- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Minerals Council of Australia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
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