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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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Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
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 ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
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- PetroVietnam Power Coal Import and Supply Company
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- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
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- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
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- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
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- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
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- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- Planning Commission, India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
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