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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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- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- White Energy Company Limited
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- The University of Queensland
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
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