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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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Thursday, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
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- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
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