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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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Sunday, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
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- Eastern Coal Council - USA
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- The University of Queensland
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
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