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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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Sunday, 23 September 12
INDIA IMPORTED 11.40 PERCENT MORE INDONESIAN COAL IN AUGUST
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 26,451,565* tons of coal in August 2012, compared to 27.88* mill ...
Saturday, 22 September 12
SOFT BUNKER PRICES KEEP INDONESIA TO INDIA FREIGHTS STABLE - VISTAAR
COALspot.com - The freight market overall remained buoyant with all indices up except for Panamax index. The main effect seems to be increased shipm ...
Friday, 21 September 12
SHIP BREAKING ACTIVITY REACHES NEW RECORDS, AS ALREADY 2012 LEVELS HAVE SURPASSED THE WHOLE OF 2011 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The vast oversupply of vessels, most notably in the dry bulk shipping sector, has forced ship owners to intensify their efforts towards recycling th ...
Thursday, 20 September 12
SUPRAMAX : INDO-INDIA ROUNDS WERE AROUND USD 12K - FEARNLEYS
Handy
Not a bad week for Supramax tonnage, if we compare Supramax developments to the bigger size tonnage. The rates have basically remained unchan ...
Thursday, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
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- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- White Energy Company Limited
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
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