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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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Thursday, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
Monday, 10 September 12
TNPL, AN INDIAN PAPER MAKER IS SEEKING FOR 300K MT OF IMPORTED NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint & Papers Ltd. , an Indian paper maker, is seeking 300,000 metric tons ± 5% (In 6 Shipments about 50,0 ...
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- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Australian Coal Association
- White Energy Company Limited
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
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