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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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Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
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- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Planning Commission, India
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
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