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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, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
Sunday, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
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- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
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