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Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger ship type, the Capesize, typically used to ship iron ore and coal to China and other market, is still facing the heat of oversupply. Yesterday, the BDI (Baltic Dry Index) was 1.36% higher to 896 points, again with the support of smaller ship types, namely the Supramax and the Pamanax ones. By contrast the Capesize market was once again down by 0.85% on the day. The Supramax market inched higher by 1.82%, while Handies were also up by 1.53% to 530 points.
The latest report from shipbroker Fearnleys mentioned on the Capesize segment that “the Pacific has remained largely inactive with the exception on one Miner covering a couple of positions and managing to bring the market down in the process. The Atlantic has been equally as inactive, but there have been a few front haul fixtures at varying levels. It seems that the bottom here has been reached. Also the short period market, which had been paying a premium over the spot market, has all but disappeared” said Fearnleys.
In a separate report, shipbroker Shiptrade Services said that “in the Atlantic Basin over supply of tonnage keeps the market at low levels. The demand for iron ore and coal in Europe remains limited and this is the main reason for the negative sentiment in this region. The T/A rounds closed at levels close to 4.000 daily and the Fronhaul requirements from NCSA and ECUS and ECCA are not enough to drive the market upwards This down fall on rates was reflected on the average of TC routes which went down by USD 394 closing the week at USD 5,392. Pacific market remained stable at low levels with the round falling by USD 500, being fixed at USD 6,000. The cyclone which hit West-Australia refrained the iron ore majors from producing fresh cargoes resulting in oversupply of tonnage in the area. This preserved the negative sentiment as owners have to compete for lower rates when the production returns back to normal. Period activity was active but on lower rates around USD 10,000 levels” stated Shiptrade.
Moving on to one of the “stars” of the dry bulk market these days, the Panamax segment, Fearnleys noted that “the Panamax market has experienced some slightly positive signals the last week. We´ve seen rates coming up a bit in the Atlantic with the ECSA grain business being the main driver. We also see some more coal cargos from USEC and Baltic but the rates here are keeping somewhat flat. In the Pacific we have seen the market come off a bit with heavy rains in Aussie affecting mining and rail carriage of coal to the ports. The latter has caused vessels to start ballasting for the ECSA grain cargos in order to secure employment at decent levels. Fhauls are being fixed at around 16k + 600k GBB for ECSA and Tarvs fetching around 6k while the Pac rounds are being fixed in region of USD 7/8k. The period market is still somehow active with 1-year deals being concluded in region of USD 10,500” the shipbroker said.
On the Handy/Supramax segments, Fearnleys commented that another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US Gulf/Skaw Passero fixed tick above USD 15k. Fronthauls fixed USD 13600. The Pacific market has remained steady. For Indo-India, large eco Supra can fetch close to USD 19k bss Singapore. Premium cargoes like nickel ore are also seen fixed at USD 13k dely North China. Nopac also fixed around USD 11k dop Japan. Indian iron ore market remains quiet with less activity on WCI & ECI. WCI-China rates around USD 11k and ECI-China around USD 8k. RBCT rv fixed at APS USD 12k + BB USD 350k. Red Sea fertilisers to India are fixed high teens. Not much activity seen on short period and rates are around USD 12k for large Supra” concluded the shipbroker in its report.
Similarly, Shiptrade said that “in the Atlantic it was a positive week with the transatlantic increasing at USD 8,000 mainly due to more cargoes coming out in the market especially from ECSA where, after a long time, some sugar parcels came to remind owners that grain season is about to begin. This was reinforced by some movement in orders from West Africa to Continent or Far East which relieved ECSA from ballasters. USG and Continent remained at flat rates with low volume on cargoes while rates ex Black Sea have been raised up a bit. The front haul trips remained at similar levels than last week averaging at around USD 13,750. On the other side, Pacific round was fixed at much better levels of USD 7,500 mainly due to increased coal exports from Indonesia and the whole South East Asia region. Back haul trips were mainly done ex Thailand to West Africa with bagged rice but yielded low returns for the owners thus many refrained from coming back to Atlantic than suffering losses. Vessels opened at East Coast India preferred to ballast towards Singapore for a trip to China of PG. Period activity was extremely slow as owners found no reason to fixing at such rates” it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
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- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
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