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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 this week the tide has turned once again. Yesterday, the BDI was again down by 11 points to just 752 points, dangerously close to the lows of the end of 2008, when the global trade was essentially brought to a halt. All major shipping markets within the dry bulk industry were down yesterday, with the larger vessels losing the most.
According to the latest weekly report by shipbroker Fearnleys, Capesize owners “are again turning nervous after a period of increased activity and consequent climbing rate levels. Despite an ongoing flow of particularly West Australian ore cargoes, levels again ease off as the tonnage surplus proves more than sufficient to cover positive spot volume fluctuations. With national holidays in China coming up next week, a w-o-w improvement in average daily earnings of USD 1400 (or 24%) to USD 7300 presently looks apt to stop and turn south again as both fundamental spot and paper sentiment is overall negative. Historical seasonal expectations have not convinced major players to any large extent, resulting in low period activity” the report said.
On the Panamax front, it was “yet another week of softening rates in the Atlantic. A Baltic round was reported fixed on TC at USD 500 per day for a nice/modern vessel and voyage business in the Atlantic is regularly fixed at TC equivalents below zero. Front haul is also softening; USG struggles to absorb all the ballasters from the east, last done for USG/China is 12k+200k aps. On the positive side Vale have been busy covering several iron ore shipments from Tubarao to China, but not even this seems to be able to have a positive effect on the market. The Pacific is better than the Atlantic. In anticipation of holidays in China next week fresh cargoes makes sure that ships are able to fix nopac and Australia rounds around USD 5k per day. Period market is very silent. FFA forward curve slides a bit every day and it seems we are at a point where owners rather wait with their period fixtures” Fearnleys said.
Concluding its analysis of the dry bulk markets, the shipbroker said on the Handy/Supramax front, that “yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent money. For trip to USG they are fetching around USD 3k, while ships open in USG are being fixed in region of USD 12k. If you´re willing to send your ship to a less paying market in the Feast you can achieve about USD 15k for a front haul with Continent delivery. The Pacific market is getting weaker with upcoming Golden Week holidays. For Indo-India, large eco Supra now fixed at USD 9k for dely Singapore. Nopac also fixed bss APS at USD 8k + BB 375k. Indian iron ore market remains quiet with less activity on WCI & ECI. WCI-China rates around USD 5k and ECI-China around USD 4k. RBCT rv fixed at APS USD 8k + BB USD 250k. Red Sea fertilisers to India are fixed high teens. Not much activity seen on short period and rates around USD 9500 for large Supra” Fearnleys noted.
Meanwhile, in a report from Citigroup released this week, it was predicted that supply of iron ore into the seaborne market will rise 15 percent in the current half, compared to the first half of the year, as both Vale and Rio Tinto are expected to increase production. Supply will climb to 470 million metric tons of the steelmaking raw material, compared with 410 million tons in the first half and 440 million tons a year earlier, Citi Research said.
In a separate report, released by Standard Chartered Bank, it was said that China will become increasingly dependent on imported iron ore propping up international iron ore prices in the next 10 years as the nation's steel demand runs high and domestic iron ore's iron content continues to shrink. China's demand for steel is expected to rise until 2025, Standard Chartered predicted, which is five years more than previous forecasts. Steel demand from the construction sector is to fall starting 2014, giving way to demand from the manufacturing sector. China's domestic iron ore cannot meet demand from the steel industry as output is tipped to remain steady in the years to come after climbing to 1.32 billion tons in 2011, which was five times the amount recorded in 2000. Standard Chartered predicted that China's iron ore output would grow 11% annually from 2012 through 2015 and begin to drop in 2016. Moreover, Chinese iron ore's iron content currently stands at 20%, down significantly from 30% in 2004 and well below Australian and Brazilian ore's 60%. Standard Chartered predicted that Chinese iron ore's iron content would sink to 15% by 2026.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 09 November 12
SHIP OWNERS TURN TO SECOND HAND VESSELS, WHICH COME AT ATTRACTIVE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The attractiveness of modern second hand vessels, which are often priced aggressively can't be ignored by cash-rich ship owners, who are taking adv ...
Thursday, 08 November 12
LARGE ECO SUPRA : INDO - INDIA NOW FIXED AT USD 11K FOR DELIVERY SINGAPORE - FEARNLEYS
Handy
The Atlantic market continues to remain weak with rates further softening on FH. Rates from USG to Feast were around USD 14k and Black Sea to ...
Thursday, 08 November 12
DRY BULK MARKET RETREATS AGAIN ON HIGHER SHIP SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In further evidence of a latest round of dry bulk shipping misery, the industry's benchmark fell for the 11th straight session yesterday, as the in ...
Thursday, 08 November 12
JOIN CHINA STEAM COAL SUPPLY - DEMAND FORUM
Join China Steam Coal Supply-Demand Forum & Visit Shenhua Yudean Zhuhai Port Coal Terminal
Press Release - Organized by CBI BIZ and suppo ...
Wednesday, 07 November 12
NEWBUILDING ORDERING ACTIVITY ON A STEADY PACE PRIOR TO THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding orders, which to many involved in the shipping industry, are the main reason of today's low freight rates and subsequent financial prob ...
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- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- The University of Queensland
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
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