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Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to plunge to more than one-month lows, ending the session down to 1,859 points, or by 2.77%.
All shipping segments were down yesterday, with the Capesize market sustaining the biggest losses by 3.23%. The Panamax market was down by 1.20%.
According to the latest report from Shiptrade Services, after the previous weeks’ steady increase, the market turned downwards with Capesizes suffering the most. Commenting on the Capesize market, it mentioned that “the week began positively, but lack of cargoes in the Pacific forced Owners to lower their levels, or start ballasting towards the Atlantic.
Atlantic basin was active, with good cargo volume mostly coming ex Brazil.
Rates for Transatlantic rounds concluded at USD 34.000 per day, while on the Fronthaul trade, rates for trips to F.East, levels concluded at USD 49.000 per day. On the Tubarao/Qingdao trade rates were fluctuating between USD 30.00 – 30.50 pmt but week’s closing rates softened as an effect of the ballasters from the Pacific.
Pacific basin was quiet due to the absence of the iron ore majors but Owners could see a few alternative cargoes ex S.Africa / W.Canada. Rates softened, and at weeks closing, rates for the Australia/China trade concluded at USD 11.00pmt, while on TCT basis, rates for Pacific round concluded at USD 25.000 per day basis N.China delivery” said Shiptrade.
In a separate report Fearnley’s said that “after a relatively long period with improving rates, the Cape market experiences a correction mid last week. Rates kept dropping throughout this week, with West Australia/China being done just bellow usd 10 pmt. Tubarao/Qingdao was done last week around usd 32 pmt, the lowest done this week is just below usd 25 pmt. The drop in spot rates has resulted in less period activity with chrtrs aiming around mid teens, a level perceived to be of non interest to the owners. The rest of the week is remained to be quiet with Eisbein going on in Germany” said the report.
On the Panamax front, the Nordic-based shipbroker it said “fair activity with mineral requirements in the North Atlantic from USEC and Baltic catering for healthy levels as market is tight for prompt loaders. Fixing levels in the 20´s for Baltic rounds, upper teens for TA rounds. Less activity and weakness in the USG and ECSA from an increasing number of
ballasters appears from the Med and Far East. Levels for trip out hovering in the 26 + 600 range basis APS. In the Far East activity is low, tonnage lists grow, and rates are under downward pressure. NOPAC rounds 12500, period activity scant. The general sentiment is losing confidence from a slow and descending forward market” said Fearnley’s.
Shiptrade Services mentioned that “Panamax rates dropped slightly since the cargo volume was not enough to cover the available tonnage. In the Atlantic basin, the USG market remained the driving force, especially for the Fronthaul cargoes with fixtures at USD 26.500+650.000 GBB basis APS USG. Rates for Transatlantic round remained at USD 17.500 - 18.000 per day. In the Pacific basin activity remained flat with many Charterers waiting for rates to drop further. At week’s closing, rates for S.China/S.E.Asia positions interested for
Indonesia round, concluded at USD 14.000 – 14.500 per day. Positions at N.china/Japan range interested for trips ex NOPAC could get USD 13-14.500 per day” said Shiptrade.
On the Supramax trades the Piraeus-based shipbroker mentioned that “the market followed the same trend, with less cargoes and rates dropping. In the Atlantic basin, we could notice a decrease in the number of cargoes, but some areas were more attractive. In the USG region rates for trip to continent/East Mediterranean remained steady close to USD 30.000 per day, while for trips to F.East fixtures reported at USD 38.000 per day.
On the Mediterranean/Bl.Sea market, rates for trips to F.East held around USD 24 - 25.000per day, while rates for trips to USG were between USD 9 -10.000per day. On the ECSA region, vessels concluded at rates close to USD 18-19.000per day + 400.000 ballast bonus basis APS ECSA 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 dropped, as there were not many cargoes from Indonesia, and many Charterers preferred not to move and see how the market will proceed.
Some fixtures concluded to direction India but levels were fluctuating between USD 8.000 – 11.000per day. On the other hand, for the N.China positions, a few cargoes ex NOPAC remained an attractive solution at rates of USD 12.000per day (M/V Prabhu Jivesh 50956 / 02’)” concluded the shipbroker.
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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- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- PTC India Limited - India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Australian Coal Association
- Africa Commodities Group - South Africa
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