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Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Index (BDI) posting its first fall in five sessions, ending down by 1.30% to 1,744 points, thus retreating for a year high of 1,767 points. The Capesize market which led the gains in the previous weeks, reaching its highest level since December of last year, was the main loser yesterday, with the Baltic Capesize Index dropping by 2.39% on the day to 2,938 points. Capesize earnings had previously reached average daily earnings of $24,575. Still though, all other dry bulk shipping segments were on a high yesterday, with the Panamax market gaining 0.73% to reach 1.657 points (Baltic Panamax Index).
Still, already since yesterday shipbrokers had been doubtful about whether this latest surge would be sustainable. George Lazaridis, head of research with shipbroker Intermodal was quoted by Reuters as saying that “many have been sceptical about the whole recovery process. Essentially it has been the capes none of the others (ship segments) have shown any major recovery. There were much more (capesize) cargoes and fixtures reported but there are also so many vessels working around these areas. It is doubtful that rates can continue on for too long” said Mr. Lazaridis.
Commenting on the Capesize market, shipbroker Fearnley’s said yesterday in its weekly report that “after a strong rise in the market towards the end of last week, this week started with definite signs of strength. This was due on the back of a very tight September market. Presently the pressure is off September positions and both basins have fallen. The West Australia market has fallen from USD 10.90 level to USD 10.25, and the Brazil to China market has fallen from upper USD 27.00 to about USD 25.00. Sentiment is for a further correction of the market. The T/A market is still firm as continued tight tonnage supply seems to be the norm. On the period front there has been a significant rise in what charterers are willing to pay for early vessels, and there is renewed confidence with vessels being fixed for 2 or more years at improved levels. Today you can secure USD 17-18k short period” said Fearnley’s.
On the Panamax front it said that “western Hemisphere is suffering from a downturn vs Eastern Hemisphere still riding on an upturn. The scenario is not (only) from world economy but also from the Panamax freight levels this week. Spot positions in the Atlantic struggle due to lack of sufficient requirements and rates are sliding towards 13k/day for T/A rounds. Fronthaul business is limited with some minerals and grain cargoes fixable around the 21k mark. In the Far East lack of prompt tonnage in certain areas have given fuel to the market, supported by a rising Cape market. Nopac rounds achievable above 14k/day. Short period activity loosing some of its recent steam in the mid 13 range as the forward market took a breather early week” Fearnley’s said. In a separate report, Shiptrade Services mentioned that “the week began quietly rates softened just a bit across both basins. In the Atlantic region, we witnessed a lack of fresh inquires, combined with a growing supply of tonnage availability, which pushed rates downwards. Rates for Transatlantic round began from USD 14.750 per day and eventually concluded at USD 14.500per day towards weeks closing. On the Fronthaul trade rates declined at levels around USD 21.500 per day at weeks closing. The Pacific market started quietly as an effect of holidays in Singapore. Indonesia was quieter in terms of volume of fixing and rates for Pacific round drifted close to USD 10-11.000per day for vessels open N.China, or USD 12.000per day basis passing Taiwan. Rates for trips Ex Nopac increased at rates around USD 13.000 per day basis N.china/Japan range (M/V Nikolaos 75500/09)” commented Shiptrade Services.
It went on to analyze the Supramax market saying that “After two weeks with increased activity, market seems losing steam. In the Atlantic basin, the USG region is slowing down with fewer cargoes emerging the market and rates started dropping. Supramaxes reported fixed at USD high 20’s per day for trip to F.East. On the ECSA, rates for trips back to Continent/Mediterranean were at USD 14-15.000 basis W.Africa delivery, while for trips to F.East some fixtures reported at USD 20.000per day. In the pacific, market drifted as a result of the Ramadan holidays in Indonesia. Many Owners lowered their ideas in order to cover their vessels. Nickel ore parcels were scarce, but there were some coal parcels with the majority of them destined to India. Rates for trips to India were at USD 11-12.000per day, while we saw reported a modern Supramax fixed at USD 10.000per day basis delivery Karaikal, for 1 trip via Indonesia back to India. Vessels open in N.China/ Japan were more interested for NOPAC but rates were close to USD 9.000 per day” concluded the shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
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- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- MS Steel International - UAE
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
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