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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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Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
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- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
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