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Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s benchmark, the Baltic Dry Index (BDI) was down by 0.18% to 1,130 points, down by just two points. The Capesize market was practically unchanged on the day, with a marginal increase of just 0.06% to 1,613 points. The smallest ship size, the Handysize market has kept on rising with the relative Baltic index, being up by 1.12% to 630 points. By contrast, the Panamax market was down by 1.23%, while the Supramax was once again on the downside, retreating by 0.36% to 1,105 points.
In a relative note, Commodore Research & Consultancy said that Chinese coal imports have set another record as the company’s analysts had predicted. “Preliminary data from the National Bureau of Statistics shows that China imported 23.9 million tons of coal in April. This is 2.5mt (12%) more than was imported in March and 12.8mt (115%) more than was imported in April 2011. China's previous monthly coal import record was 22.4mt imported in November 2011. Going forward, we continue to anticipate that Chinese coal imports will set additional records this year. For July, we expect coal exports will exceed 25mt. Overall, we remain very bullish regarding upcoming prospects for Chinese coal imports because regional thermal coal export prices remain very low and Chinese electricity demand continues to surge. The 411 billion kwh of electricity that China produced in March 2012 was only slightly below the record 426 billion kwh produced in August 2011. Chinese electricity production normally peaks by August of every year due to peak season summer demand. In the summer months ahead, we expect electricity production will continue to increase rapidly and will set several new records. Thermal coal will remain in great demand, and we continue to anticipate that coal imports will set a record by July” concluded Commodore Research & Consultancy.
In its weekly report, shipbroker Fearnleys commented on the Capesize segment, by mentioning that “little has changed this week in terms of the market levels. All the major miners have been in and out of the market with little movement in the freight rates. The Bubble in the Atlantic burst and the market has fallen back to the USD 8000 bracket, still a premium to the Pacific market. As rates have largely remained stable the recent fall in bunker prices has benefited the bottom line of owners (except the ones already well into a ballast leg) Period fixing has also been scarce but is apparently on subs but no details reported” mentioned Fearnleys.
Meanwhile, in the Handy side, “the market remained variable. Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get over USD 20k/day, whilst USG/FE was worth above USD 25k/day. Average of TC routes closed at USD 11502 today and was still USD 1500 higher than similar index for the Panamax tonnage. Pacific market has been weak and falling. For Indo-India, large eco Supra can fetch close to USD 10k + BB USD 150k bss APS Indo. Nickel ore cargoes are not seen in market anymore due to on-going Indonesian ban which has again taken away cargoes and putting pressure on market. Nopac also fixed under USD 10k dop Japan. Indian iron ore market remains quiet with less activity. WCI-China rates around USD 10k and ECI-China around USD 7k. Some ECI Supras have been ballasting to pick up Indo cargoes as well. RBCT rv fixed at APS USD 11k + BB USD 350k. Red Sea fertilisers to India fixed high teens. Not much activity on short period and rates around USD 11k for large Supra” said the shipbroker in its report.
Finally, on the Panamax front, it noted that “intoxicated by some areas being tight for tonnage, Owners predict an Atlantic market on the rise despite falling indices. Transatlantic rounds from 12-14k depending on position and direction. Some Chrtrs have had a fair challenge to cover fronthaul buiz where levels are around 18k via COGH. Overall the Western hemisphere seems fine tuned with a few fresh mineral requirements and so far limited volumes of June grain cargoes out of ECSA. Fair activity in the Pacific where Owners have been eager to cover a growing list of positions in a sliding 8000 dollar market mid-week. With reduced hopes for a recovery in European economy and a slowly falling forward curve, period interest is limited. Only Owners willing to give wide spreads or options could find period takers for efficient tonnage in the 10k area” concluded Fearnleys.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
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