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Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk market’s benchmark, the BDI (Baltic Dry Index) to fall by 0.74% yesterday, ending the session at 2,145 points.
All dry bulk segments retreated yesterday, with reports of lower iron ore prices leading the market’s sentiment. In the recent past, those lower iron ore prices had prompted a restockpiling of iron ore from Chinese steel mills, but the trend is currently shifting. The Capesize market was down by 0.71% to 3,612 points, while the Panamax one was down by 0.76% yesterday to 1,961 points.
The latest weekly report from shipbroker Fearnley’s, referring to the Capesize market said that “reaching new highs, primarily due to a combination of widespread pacific congestion, generally healthy spot volumes and increased atlantic activity in particular. Having reached y-t-d best spot average of usd 32k, it seems however this segment may be in for a short-term slide. Major miners and mills are predominantly absent, with a resultant build-up of pacific ballasters - remaining spot activity is driven by traders and operators with atlantic focus. Before dropping sharply, forward paper values has given good support to period - resulting in 180000 dwt/2009/china beg nov done for 11-13 months at usd 18k, 207000 dwt/2008/china end nov fixing usd 19500 for 11-13 months and 179000 dwt/2010/china spot for 5-7 months at usd 21k” said Fearnley’s.
In a separate report, Piraeus-based shipbroker Shiptrade Services mentioned that the week begun slowly as most of the majors were at the conferences in Madrid, and activity at both basins being slim. “Atlantic basin was quiet, but still some fixtures occurred. Rates for Transatlantic rounds concluded at USD 35.000per day, while on the Fronthaul trade, rates for trips to F.East, levels concluded at USD 50.500per day. On the Tubarao/Qingdao trade rates were fluctuating between USD 29.00 - 29.75 pmt. In the Pacific basin we could see only a few alternative cargoes ex S.Africa so Owners were looking for the Australian parcels. At weeks closing, rates for the Australia/China trade concluded at USD 12.50pmt, while on TCT basis, rates for Pacific round concluded at USD 30.000 per day basis N.China delivery” said Shiptrade.
In the Panamax market, Fearnley’s said that “the Atlantic basin stays tight for prompt/November tonnage, consequently rates keep stabile at good levels. Owners asking18-19k in the Atlantic, whilst fronthaul still at firm 27k+ 700 from US Gulf to Far East, and 25/26k from Brazil out. Fresh amount of coal cargoes in Atlantic together with grain out of Gulf to Far East give positive signs for coming weeks. In the Pacific short periods pending around USD 13,250/13,500 while the NoPac round are being fixed around USD 12k. The backhauls are still hovering around a conservative USD 5k. Despite the constant delivery of new tonnage, demand seems to continue in good pace” said the Nordic-based shipbroker.
Similarly, Shiptrade mentioned that “rates slightly dropped since the cargo volume was not enough to cover the available tonnage. In the Atlantic basin, the USG market still remained the driving force, especially for the Fronthaul cargoes with fixtures reported at USD 26.500+650.000 GBB basis APS USG. On the other hand, Bl. Sea seemed to be a premium area as fixtures reported at USD 45.000 per day for 1 trip to China. Rates for Transatlantic round remained at USD 17.500 - 18.000per day. In the Pacific basin activity reduced starting from Tuesday, as many Charterers with November stems decided not to cover their enquiries yet, and rates slightly dropped. At week’s closing, rates for S.China/S.E.Asia positions interested for Indonesia round, concluded at USD 15.500 - 16.000per day. Positions at N.china/Japan range interested for trips ex NOPAC could get USD 15-15.000per day, while some fixtures reported at USD 16.000per day” said Shiptrade.
As for the Supramax market, which sustained the most losses on Wednesday’s session, Shiptrade said that “the market remained steady in the Atlantic, but Pacific lost steam. In the Atlantic basin, the USG region kept the league once again. Rates ex USG for trip to continent/East Mediterranean concluded close to USD 30.000 per day, while for trips to F.East fixtures reported at USD 36.000 per day. On the Mediterranean/Bl.Sea market, rates for trips to F.East held around USD 25.000per day, while rates for trips to USG were between USD 7-9.000per day. On the ECSA region, vessels concluded at rates close to USD 22-23.000 basis W.Africa delivery for trips to F.East, and for trips to Continent/Med rates concluded at USD 16-17.000per day. In the pacific basin, rates slightly dropped, but many Owners still preferred to cover their vessels for short period at rates between USD 14--15.000per day, rather than keeping them in the spot market. Those who remained on the spot market could fix cargoes ex Indonesia to direction India but levels were fluctuating. Some fixtures reported at rates from USD 9.000 - 15.000 per day. On the other hand, for the N.China positions, the cargoes ex Nopac remained an attractive solution at rates of USD 14 -15.000per day” said Shiptrade.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
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- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
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