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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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Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Planning Commission, India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
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