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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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Monday, 10 September 12
TNPL, AN INDIAN PAPER MAKER IS SEEKING FOR 300K MT OF IMPORTED NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint & Papers Ltd. , an Indian paper maker, is seeking 300,000 metric tons ± 5% (In 6 Shipments about 50,0 ...
Monday, 10 September 12
ORPHEUS ENERGY SECURES INDONESIAN COAL TRADING LICENSE
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced today that the Indonesian Ministry of Energy and Mineral Resources h ...
Monday, 10 September 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY / HELLENIC SHIPPING
The European Central Bank left its interest rate unchanged at 0.75% focusing on pushing down borrowing costs in troubled economies, Spain and Italy. ...
Sunday, 09 September 12
H213 SUB-BIT FOB INDONESIA COAL SWAPS ARE TRADING HIGHER
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 0.14 percent W-O-W on 7 September 2012, Friday closing but gained ...
Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
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- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
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