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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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Tuesday, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
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- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Planning Commission, India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- The University of Queensland
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
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