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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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Wednesday, 10 October 12
TAPPING OPPORTUNITIES WITHIN GLOBAL ECONOMIC PERSPECTIVE
Press Release: Mining sector will continue to play a significant role in supporting industrial and economic development in Indonesia which is curren ...
Tuesday, 09 October 12
REALM RESOURCES RECOMMENCES DRILLING AT KATINGAN RIA COAL PROJECT
COALspot.com : Realm Resources Ltd. (ASX) has announced that it has commenced work on the phase three technical programme at its Katingan Project in ...
Sunday, 07 October 12
INDONESIAN GOVERNMENT DECLARED HBA FELL AGAIN IN OCTOBER
COALspot.com - The Indonesian government’s declared coal reference price has lost US$ 0.17 per MT M-M.
The monthly coal referen ...
Saturday, 06 October 12
CFR SOUTH CHINA COAL SWAPS FOR DECEMBER'13 DELIVERY GAINED 1.3 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery gained 0.098 percent and 0.164 percent W-W and D-D respectively o ...
Saturday, 06 October 12
FREIGHT MARKET IS LIKELY TO PICK AFTER THE HOLIDAYS IN CHINA - VISTAAR
COALspot.com - The freight market appeared to be seeing some increase BDI up by 14.23 pct closing at 875 points. The Cape and Panamax index also saw ...
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- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
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