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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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Sunday, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
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- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
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