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Thursday, 22 November 12
DRY BULK MARKET RISE, BUT OUTLOOK SEEN DIM ON THE BACK OF RECORD NEW BUILDING DELIVERIES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market has been under hefty pressure since the start of the year, as a result of record newbuilding deliveries and below-par demand for cargoes, which haven't been offset that much by the record pace of ship demolition activity. As a result, the industry's benchmark has been hovering around subdued levels for some time now. Yesterday, the BDI (Baltic Dry Index) was up by 7 points to 1073, as a result of a rebound in Panamax activity, which together with the rise of the Supramax segment, were able to negate the rapid fall of the Capesize market.
Commenting on the Capesize segment, the latest weekly report from shipbroker Fearnleys noted that "with last 5 trading days showing only marginal fluctuations in levels concluded despite increased volumes, sentiment again turning nervous as improved activity fails to lift spot. Far East appears the most vulnerable, with rates for the WAust/China trade falling 10% and general Pacific rounds almost 15% w-o-w. Atlantic remains the bright spot in comparison – but with more speculation of massive volumes to be moved from Brazil during December than actual fixing, a steady flow of ballasters could soon change this picture. Support from paper levels combined with owners seeking predictable income for 2013 have allowed for limited period activity - representative fixtures include 175k dwt/built 2011 done for 10-14 months with delivery China mid Dec at USD 11250, 175k dwt/built 2010 delivering China prompt for 11-17 months at USD 11350, and 180k dwt/built 2011 delivery China prompt for 11-18 months at USD 11250" said the shipbroker.
On the Panamax front, Fearnleys added that "the last week has been strong for the Panamaxes both in Atlantic and Pacific. A sudden shortage of ships for early positions in Atlantic have driven transatlantic rounds up to around USD 8k, much thanks to coal cargoes from US and also some more grain cargoes from South America. Fronthaul on the other hand is not quite as busy, but both USG/China and ECSA/China fetching around 14500+450k ballast bonus. It was reported a period fixture with Atlantic delivery of 11/13 months at USD 8500. In the Far East there is enough activity for the market to slowly move upwards even though there are plenty of ships available. Coal to China is probably the main driver. A Pacific round pays around USD 8500, but maybe more interestingly the short period market in Feast pays around USD 7750 indicating that market players doesn´t really believe in this market for the longer term" the shipbroker concluded.
Finally, on the Handy front, it said that "the north Continent is seeing plenty of tonnages but lack of cargoes. TA business are around 11k and fronthaul is around 17k.Tonnages has tightened slightly in the US Gulf. For USG - SE Asia/Far East large eco Supra fixed at USD 18k. The Indian iron ore market remains quiet with less activity on WCI & ECI. India/China tct rate would be around USD 5k. Far East continues to be on positive side, 56k dwt fixing passing Spore for nickel ore RV at USD 13500. For Indo-India, large eco Supra now fixed at USD 12500 bss passing Spore. South Africa has been quiet this week. Red Sea fertilisers to India are fixed high teens" it said.
In a similar report, Piraeus-based shipbroker Shiptrade & Services said about the Supramax front that "positive news for the Supramax market, especially in the Atlantic basin, where a number of fronthauls from the USG in combination with the tonnage shortage in the area pushed the BSI at 674 points. Trips from the USG to FEast are expected to pay around USD 16,000 for large-eco Supras, whereas trips with redelivery Continent expect to pay around USD 11,500. On the other hand, the Cont/Med market still suffers of oversupply of Supras resulting to a large number of spot vessels. However, scrap cargoes ex Continent to Emed are regulars, with rates fluctuating around USD 8,500 - 9,000. A number of ballasters towards Gibraltar are expected in order to pursue better cargo availability.
Admittedly, in the Pacific Supramax market, the only support comes from the Indonesian cargoes, whereas the India market has been on the quiet side for another week, however, with significantly good volume of coal and nickel ore cargoes. NOPAC rounds pay approximately USD 8,000 plus a ballast bonus USD 300k. The Indian market is still stable, with Supras being fixed for Indo/India orders with delivery Singapore at levels around USD 10,500 and redelivery ECI. The Indian Iron Ore to China is expected to pay around USD 5,750 but on low volumes, whereas, no change has been observed for another week on the RBCT round, with rates still at USD 8000 + 200K ballast bonus. A small increase in short period requirements has been seen, with rates for large and eco Supras hovering around USD 8,500 to 9,000 levels" it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
Wednesday, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
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- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
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