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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, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
Thursday, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
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- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Planning Commission, India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
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