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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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- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Deloitte Consulting - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- White Energy Company Limited
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Australian Coal Association
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
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