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Friday, 20 June 14
DRY BULK MARKET LOOKING FOR UPSIDE ON ROBUST SEABORNE IRON ORE TRADE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market hasn’t been able to justify the heightened expectations this year. Yesterday, the Baltic Dry Index managed to inch forward, rising by 35 points to 902 points, on the back of increased Capesize demand. The Baltic Capesize Index (BCI) was up by 152 points to 1,919. The rest of the submarkets thought were once again on the downside, most notably the Panamax market.
According to the latest report from shipbroker Fearnleys, on the Capesize market there were “glimpses of improvement following days of softening, and consequent surge of conficence for the big ships as major miners keep taking july loaders on the important Brazil/China ore route. Average daily earnings are still down some some usd 2k (to usd 12800) w-o-w, but with the present push on fronthaul iron ore, near-term recovery is expected. Volume on the Waust/China trade remains unimpressive, with freight rates struggling to break the usd 8 pmt barrier and tonnage supply in excess. Paper has taken a hit, with period activity consequently being very limited”.
On the Panamax front, Fearnleys noted, “what a week! We are very close to breaking the all time low record and TA ´s are down 62% w-o-w and now fixing at ard Usd 1k and even below 0 at voyage bss. It is simply not enough cargoes and the activity is extremely low. Chrts entering the market with their cargoes are fixing within 20 minutes and owners are probably better off dropping the anchor at this point. In the Pacific we see the same tendency allthough the levels are a touch higher than in the Atlantic. Pac rounds are now being fixed at ard Usd 3,5-4k. Well below Opex. The period market is fairly active and good kamsarmaxes are able to fetch ard Usd 9k for shorter periods over the summer”, said the shipbroker.
Finally, “the Supra-Handy market is experiencing the same market slow down as its bigger sister markets however not to the same extent. We see TA rates decline with 11,54% w-o-w much caused by a growing tonnage list and few fresh cargoes. The coal and iron ore sales seems to be gone as the majority of cgos being shipped is grains. Also in the Feast the market remains weak even though we see more cargoes entering the market, it is just too many ships competing for the same cgos. Indonesian rounds to Thailand are being fixed at ard Usd 6k + Usd60k GBB bss APS delivery while NoPac rounds are being traded in the region of Usd 9,250+Usd 300k GBB for Supras. Several owners now want to fix out their ships for short periods at a bit healthier numbers than the spot market is showing, but there are not that many takers”, Fearnleys concluded.
Meanwhile, in a note released this week, Commodore Research & Consultancy said that “recently released data shows that average daily crude steel production at China’s key steel mills hit a record high of 1.833 million tons during the first ten days of this month.
Previously, daily crude steel production at China’s key steel mills during the last eleven days of May averaged 1.767 million tons – which was a high level, although down from the previous record of 1.824 million tons seen during the first ten days of May. It is very encouraging that Chinese steel production has set another record this month. As we have continued to stress, Chinese steel production has remained very strong during the last several months. While Chinese steel production normally comes under a small amount of pressure in June (while still remaining at robust levels), it is very encouraging and not surprising that production has set a record this month. As we have been discussing in our Weekly Dry Bulk Reports and Weekly China Reports, demand for steel in China has remained firm as the government continues to green light new infrastructure projects and works towards further stimulating the economy.
In addition, low iron ore prices have allowed profit margins at Chinese steel mills to improve significantly since the start of this year. Global demand for Chinese steel exports has also remained robust, even as global steel production has also set a new record this year”.
It added that “record steel production means record iron ore consumption. Overall, Chinese iron ore consumption has remained robust this year and Chinese iron ore imports have continued to surge. Chinese steel mills continue to purchase a record amount of iron ore imports this year, with Chinese iron ore imports this year up by approximately 20% from last year’s record level. Going forward, Australian and Brazilian iron ore production is set to surge even further and steel mills will continue to happily purchase low-priced high quality iron ore from Australia and Brazil.
At the same time, more Chinese domestic iron ore mines will likely suspend iron ore production as they can’t compete with Australian and Brazilian mines with much lower costs. Seaborne iron ore trade is poised to remain robust”, Commodore concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Sunday, 15 June 14
COAL FREIGHT RATES FALL FURTHER ON LACK OF DEMANDS - CAPT. REDDY
COALspot.com: The BDI softened this week as all segments fell this week. The Panamax sector being most affected. The Cape index was down 3.51 pct w ...
Friday, 13 June 14
US COAL PRODUCTION FELL 3% IN WEEK THAT ENDED JUNE 7, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Friday, 13 June 14
DRY BULK MARKET KEEPS ON FALLING, DESPITE RESPITE OF THE CAPESIZE SECTOR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on its lacklustre performance overall, with the Baltic Dry Index (BDI) still hovering below the 1,000 point mark. Yest ...
Thursday, 12 June 14
INDONESIA SETS HBA FOR MONTH OF JUNE AT US$ 73.64
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised up first time in last four months the coal bench mark price. ...
Thursday, 12 June 14
HANDY : TA MARKET IS CONTINUING SOUTH WITH A DECREASE OF 26% W-O-W
Handy
The week started off with holidays in most European countries and the TA market is continuing south with a decrease of 26% w-o-w. We do see ...
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- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
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