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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, the BDI (Baltic Dry Index) ended yesterday down by 0.26% to 1,152 points, but still 24,5% higher than the previous month, on the back of the recent recovery. The latter was fuelled by the Panamax segment and the start of the grain season in Latin America, which helped the dry bulk market retrieve most of the part lost since the start of the year, when the market experienced a near record collapse, as a result of too many new ships entering the global fleet. Yesterday, the Capesize market was practically unchanged to 1,495 points, up by 1 point on the day. The same applied to the Supramax, as well as the Handysize segments, which were also up by just 1 point to 1,099 and 601 respectively. The only losing part of the market was the Panamax with a fall of 20 points to 1,693 points.
In its latest weekly report, shipbroker Fearnleys commented on the Capesize market by mentioning that " the Cape market has continued to be depressed. The Pacific is weaker and rates from Western Australia have fallen to USD 7.40 from about USD 7.60 + last week. The front haul market has also fallen to about USD 20.70. The only bright spot is the US coal that has become competitive in the Chinese market and several sales have been concluded with tonnage ballasting from the Far East. This is due to the continued lack of tonnage in the Atlantic, with the few ships that are open preferring to continue to trade within the Atlantic. Short period has also been quiet with only a couple of fixtures done at a suggested level of USD 12k per day, which is still a significant premium to the spot market" said Fearnleys in its report.
Meanwhile, on the Panamax market, it mentioned that " the Panamax market has experienced a major upturn the last couple of weeks. This trend has now stopped, and it might only be short lived correction until rates will keep on firming. The trend has been driven mainly by coal cargos with India and China being the 2 major buyers of same. We believe this will continue for a while as the prices for US coal are historically low for the Chinese. India announced that they would need to import about 15 million mt more coal, and this will again tie up tonnage and make the Atlantic more tight. Tarvs are now fixing around USD 16k while the Fhauls are being concluded at a strong 22/23k per day. In the Pacific, rounds are being fixed at around USD 11-11.5k. The short period market has seen some deals being concluded at around 11.5/11.8k for Pacific delivery" said the report.
Finally, on the Handy markets, Fearnleys noted that "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 be nice places as well and paid FE destinations in excess of USD 18k/day for Black Sea/Aden able vessels and over USD 16k daily for Baltic carriers. Short period in the Atlantic stayed almost unchanged at USD 15/16k levels. Pacific market has softened due to on-going holidays and extended weekend in FEast. For Indo-India, large eco Supra can fetch close to USD 8k bss N.China. Nickel ore cargoes are seen fixed at USD 10k dely N.China.
Nopac also fixed around USD 9k 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 7k. Some ECI Supras have been ballasting to pick up Indo cargoes as well. RBCT rv fixed at APS USD 11k + BB USD 350k. Red Sea fertilisers to India are fixed high teens. Not much activity on short period and rates around USD 12k for large Supra" it concluded.
In terms of newbuilding business reported, it's worth noting that 8 firm ships reported this week, 6 of them LPG carriers. "There seems to be a positive consensus in the relative quite sector of LPG newbuildings. Pricewise, it seems the market is moving sideways with no big surprises. Although yards are searching high and low for new business, they remain steady at current price levels" stated Fearnleys.
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
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 ...
Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
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