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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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Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
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- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Australian Coal Association
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- White Energy Company Limited
- VISA Power Limited - India
- Planning Commission, India
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