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Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffering the main losses. The Baltic Capesize Index (BPI) was down by 1.51% yesterday, ending the session at 3,268 points. By contrast, the Panamax segment fared much better, rising by 1.02% to reach 1,681 points.
According to the latest weekly report from shipbroker Fearnley’s, “a psychological barrier seems to kick in every time spot levels for the capesize segment climb close to usd 30k. A robust strengthening on high volume is turning into a soft slide as activity cools down and nervousness spread. Despite last few days´ developments, average daily earnings are still up 12% w-o-w at usd 28k, and fundamental parametres still appear robust for transatlantic and pacific trades. Period activity has been fair on the back of paper support - most recently exemplified by 2 x 206kdwt newcastlemax NBs delivering Feb+April 2012 for about 4 years to major energy producers at usd 18k, 175kdwt/built 2010 delivering Japan early Oct done for 4-6 months at usd 19k and also 176kdwt/built 2010 delivering N.China early Oct for 4-6 months at usd 18k” said Fearnley’s.
In a separate report, commenting on the Capesize market, Piraeus-based shipbroker Shiptrade Services said that “the Atlantic market was relatively active, especially for prompt positions. Rates increased significantly, and at week’s closing fixtures reported at USD 33.000 per day Transatlantic round, while on the Front haul trade, fixtures reported at USD 50.000 per day. On the Tubarao/Qingdao trade, levels followed the same trend, and eventually concluded at USD 27.00pmt. Activity in the Pacific basin was even stronger than in the Atlantic. Cargo volume increased as new cargoes emerged from S.Africa, and India, but rates for pacific round voyage remained at same levels, i.e USD 24.000 per day. On the Australia/China trade, the iron ore majors covered about 15 vessels at levels close to USD 11.50pmt” said Shiptrade.
Meanwhile, according to Fearnley’s “the Panamax market started this week on a quiet note with only USG fronthaul giving some fuel to the levels. In the Atlantic the market is firming up, tighter with tonnage and some fresh minerals and grains requirements entering the market. TA rounds are now fetching ard usd 14,500 while some claim to have seen usd 16k for the shorter Baltic rounds. The fronthauls closer to mid 20´s with additional premium for shorter trips via Aden. In the Pacific activity is slowing down in all areas. Some analysts warn that China ´s emergency coal reserve provision is too small, and they might pick up the pase they had earlier on Indonesian coal. Mid week the Pac rounds are being fixed at ard usd 11k while the backhauls are getting ard usd 4,500. The period market has shown some activity with a few short period fixtures in the mid 12k range. With the coming holidays in China activity and levels could suffer next week” mentioned the shipbroker.
Shiptrade’s comment on the Panamax market was that there were not many fresh enquiries, combined with prompt tonnage building up, and rates sliding. “In the Atlantic basin we saw plenty of fixtures but rates didn’t manage to increase, as there were not so many fresh enquiries, especially for Transatlantic round. At week’s closing, rates for Transatlantic round concluded at USD 14.000 per day, while on the Front haul trade rates declined at USD 24.000 per day, with the majority of cargoes coming from USG. Pacific remained a bit quiet with not many enquiries in the market, and many prompt vessels looking for suitable cargoes. Rates declined, and at week’s closing, rates for Pacific round concluded around USD 11.000 – 11.500per day basis N.China delivery, or close to USD 13.000per day basis S.China – S.E.Asia delivery. Rates for trips Ex NOPAC concluded at levels around USD 10.500 – 11.500per day basis N.china/Japan range for BPI type vessel (M/V Eleftheria 76.134/01’), concluded Shiptrade.
Yesterday, Commodore Research & Consultancy issued an update on the state of coal stockpiles at the port of Qinhuangdao, China’s largest coal port, which have come under a large amount of pressure as we have anticipated. “At present, stockpiles stand at approximately 5.1 million tons, 2.2mt (-30%) less than at the start of the month. The stockpiles have come under a large amount of pressure as maintenance to China’s coal dedicated Daqin Railway (which stretches from coal-rich western China to Qinhuangdao) has coincided with robust demand for thermal coal and electricity On Tuesday September 20th, coal stockpiles at Qinhuangdao stood about 7.1mt. Maintenance to the Daqin Railway, which began on Wednesday September 21st, has resulted in the line being down for approximately 3 hours each day. The 12-day period of maintenance is scheduled to end on Monday October 3rd. Going forward, we expect that the Daqin Railway will transport 30-33mt of coal in September, which would be moderately lower than the 36.94mt of coal that was transported in August. We anticipate Qinhuangdao coal stockpiles will remain below 7mt during at least the next two weeks, which is likely to lead to a continued increase in Chinese thermal coal fixtures (Chinese thermal coal fixtures have already begun to increase this week). Regional thermal coal import prices also remain very attractive compared with Chinese domestic thermal coal prices” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
Wednesday, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
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- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- The University of Queensland
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Electricity Authority, New Zealand
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
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