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Monday, 10 September 12
DRY BULK MARKET SLOWLY BUT SURELY REACHING CRITICAL STATUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The radical consequences of the shifts in dry bulk demand and prices, especially for the most sought after commodity, concerning the industry, i.e. iron ore, has kept on this week as well. Yesterday, the industry’s benchmark, the Baltic Dry Index (BDI) continued its decline, losing an addition 9 points and ending the session down to 675 points. The biggest losses were evident in the Panamax segment which lost 30 points, reaching just 617 points (Baltic Panamax Index). By comparison, the smaller ship type of Supramax was down by 8 points in the respective Baltic Supramax Index, which stood at 837 points.
In its latest weekly report on the market, shipbroker Fearnley’s commented on the Capesize market that “a touch of A touch of optimism in the start of the week with good activity out of west Australia around the USD 7.20 level. However, ffa values were turning more negative as we approached mid-week and so did the activity. This obviously also affected short period marked, with bids just below USD 8, 000, with last done being 4-8 months USD 8,250” the shipbroker said.
On the Panamax front it added that “after last week’s continued bearish sentiment we were hoping for some glimmers of positiveness this week. This is not the case and the market in both hemispheres is continuing to drop like a rock. We see owners underbidding and waiting up to 6 days in order to even secure employment for their vessels. Some owners drop anchor waiting for cargos to come. For September loading there are very few cargos in the Atlantic and only a few forward cargos of grains are being quoted in the market. With the draught causing cargos to be cancelled, the horizon does not look very bright. TA´s now being fixed in region USD 2/3k while the fhauls are getting around USD 14k + BB. In the Pacific rounds are being fixed at around USD 4k while backhauls are giving negative return. The period market is almost none existing unless owners are able to offer very flexible periods and options” Fearnley’s noted.
In a separate report, Intermodal’s George Bassakos commented on the recent news that Vale reached an agreement to sell 10 large iron ore carriers (converted from tankers) for a total of $600 million to Polaris Shipping, of S. Korea. The world's second largest mining company, will take the vessels back on long-term charters. “With this sharp and unexpected move, Vale is freeing up capital while in the same time will continue to control flows of iron ore shipments. Vale's move comes at a time of extremely depressed market conditions, especially for the bigger ships, and seems to serve as a shield in current rough seas for Owners. China's denial to accept such mammoths in her ports being another reason for Vale to offload them” Intermodal said.
It added that “in other related news, iron ore prices returned their worst month since October 2011 in August, falling 24%, bringing the decline for the year to date to 36%, falling largely on the back of weakening demand for the steel-making ingredient from China, analysts say. Part of the problem at the moment is the high volume of stocks sitting in Chinese ports - a clear indication that steel demand growth has slowed considerably as mills turn cautious and refuse to hold inventory. As of 17 August, iron ore inventories in Chinese ports were 96.8 million tonnes (mt) (equivalent to one month's domestic use), only 4% lower than the record high of 100.9 mt reported in early February 2012. China’s manufacturing contracted at the fastest pace since March 2009, a private survey showed, indicating the slowdown in the world’s second-largest economy is deepening, Bloomberg reports. The purchasing managers’ index released today by HSBC Holdings Plc and Markit Economics had a final reading of 47.6 for August after a preliminary 47.8 provided Aug. 23. The gauge was at 49.3 in July. The dividing line between expansion and contraction is 50. Furthermore, manufacturing in the U.S. contracted for a third month in August, the longest slide since the recession ended and a sign the expansion is at risk of losing a source of strength. The Institute for Supply Management’s factory index fell to 49.6 last month, the lowest since July 2009, from 49.8 in July, the Tempe, Arizona-based group said.
If you add to all the above, the European debt crisis, which seems to be escalating lately, with no proven solution on the horizon....you get what? The 'perfect Shipping storm' on theatres around the world” the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 28 September 12
DRY BULK SECOND HAND VESSELS ON HIGH DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the demise of the dry bulk market and the collapse of freight rates since the beginning of 2012, on the back of record breaking newbuilding ...
Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
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- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- The University of Queensland
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
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