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Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry experts have identified the latest downturn in a fall of demand for smaller carriers, which in turn had been leading the rebound during the past couple of weeks. Yesterday, the BDI was down by 5 points to 926, points, with all markets down, apart from the Capesize segment, which rose once again to 1,475 points. By contrast, the Supramax market has been suffering the most during these past few days, losing an additional 25 points yesterday to 965 points.
"The dry bulk market has weakened significantly in 2012 year-to-date due to the Chinese New Year (holiday), continued robust fleet growth, and a softening in demand growth for imported commodities in China and Europe," Jefferies analyst Douglas Mavrinac said in a note, which was quoted by Reuters. Australian miner Fortescue Metals Group said despite talks of slowdown, China's economy is expanding at a relatively healthy pace, fuelling demand for raw materials such as iron ore and steel for infrastructure development and consumer products. "We expect steel production to ramp up going into the summer months, a situation we have not seen fully materialise yet, and think this will support the dry bulk market," Arctic Securities analyst Erik Nikolai Stavseth said in a quote from Reuters.
"While Chinese iron ore and steel inventories have declined modestly over the past several weeks, and while we believe increased Chinese iron ore fixtures could provide slight support for spot rates, we expect any improvement to be relatively modest," Wells Fargo senior analyst Michael Webber said in a note.
In a separate report, commenting on the Capesize segment, Shiptrade Services noted that there were “modest increase in rates for Capes this week with the BCI improving by 43 points closing at 1369. The weekly average of 4 TC routes also went upwards by USD 642 closing at USD 5,188. In the Atlantic basin although some fresh requirements came into the market, oversupply of tonnage halted rates from sufficient improvement. As a result the week closed with the fronthaul been done at USD 22,500 levels and NCSA/FEAST coal at USD 26 for second half April dates. Similar was the sentiment for the T/A round which closed at USD 3,250 recording an increase of USD 300. The Pacific market has pulled the rates up and the main reason of this improvement was the Australia iron ore trade which continued to cover some of the many available vessels at the area. Period activity went upwards by USD 500 closing at USD 10,500” said Shiptrade.
On the Panamax front, it noted that “the Atlantic market was considerably improved during this week. The USG seems booming as much coal coming out lately and the demand from Turkey for coal has driven T/A rates upwards. The rates for this kind of trips stabilized around 10500 aps plus around 400,000 balast bonus. ECSA grains charterers still entering the market with fresh requirements to PG-Japan range and the rates for Sing-Japan are now above 17 000 daily plus ballast bonus of 650-700,000 USD. In the Pacific Basin Far East / Aussie rounds closed at USD 7,5 K basis delivery South-Mid China. Sulphur charterers entered the market with requirements from North Pacific and the Nopac rounds closed at USD 8,000 region. The short period rates closed tic below 10,000 whereas one year period rates closed at usd 10,5 k for LME vessels” Shiptrade noted in its report.
Finally, on the Supramax market, “coal requirements reduced, whereas much of demand for Nickel ore traders. In the Atlantic Basin the fronthaul rates stabilized at USD mid-high teens from Med. For clean cargoes the rates were within 15-16 k depending on delivery/size etc whereas vessels able to carry dirties such as HBI got more than 17 k for trips out. From Continent the fronthaul rates are much lower. We heard that a tess 57 type got 13 k for grains biz via French Bay to Sing-Japan rge. In the Pacific Basin we noted much fewer coal requirements out of Indonesia and consequently the rates dropped 1-1,5 k since last week. On the contrary the Nickel Ore charterers pay more than 15 k basis delivery North China for round trips which is a considerable premium for ows who are reluctant to carry this commodity. Besides Many coal/nickel ore charterers entered the market looking for short period vessels with ows asking 12.5 k for tess 53 type against charterers high 11 k” concluded Shiptrade.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
Monday, 12 March 12
DELTA DUNIA 1M OVERBURDEN DROPS 3.1% - INSIDER STORIES
Insider Stories reported that, Indonesia's second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) reported a 25 million bank ...
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- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
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