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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, 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 ...
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 ...
Sunday, 23 September 12
AN ANOTHER UNSTABLE WEEK FOR INDONESIAN COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.10 percent and 0.916 percent WOW and DOD respectively ...
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- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
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