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Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s benchmark, the Baltic Dry Index (BDI) was down by 0.18% to 1,130 points, down by just two points. The Capesize market was practically unchanged on the day, with a marginal increase of just 0.06% to 1,613 points. The smallest ship size, the Handysize market has kept on rising with the relative Baltic index, being up by 1.12% to 630 points. By contrast, the Panamax market was down by 1.23%, while the Supramax was once again on the downside, retreating by 0.36% to 1,105 points.
In a relative note, Commodore Research & Consultancy said that Chinese coal imports have set another record as the company’s analysts had predicted. “Preliminary data from the National Bureau of Statistics shows that China imported 23.9 million tons of coal in April. This is 2.5mt (12%) more than was imported in March and 12.8mt (115%) more than was imported in April 2011. China's previous monthly coal import record was 22.4mt imported in November 2011. Going forward, we continue to anticipate that Chinese coal imports will set additional records this year. For July, we expect coal exports will exceed 25mt. Overall, we remain very bullish regarding upcoming prospects for Chinese coal imports because regional thermal coal export prices remain very low and Chinese electricity demand continues to surge. The 411 billion kwh of electricity that China produced in March 2012 was only slightly below the record 426 billion kwh produced in August 2011. Chinese electricity production normally peaks by August of every year due to peak season summer demand. In the summer months ahead, we expect electricity production will continue to increase rapidly and will set several new records. Thermal coal will remain in great demand, and we continue to anticipate that coal imports will set a record by July” concluded Commodore Research & Consultancy.
In its weekly report, shipbroker Fearnleys commented on the Capesize segment, by mentioning that “little has changed this week in terms of the market levels. All the major miners have been in and out of the market with little movement in the freight rates. The Bubble in the Atlantic burst and the market has fallen back to the USD 8000 bracket, still a premium to the Pacific market. As rates have largely remained stable the recent fall in bunker prices has benefited the bottom line of owners (except the ones already well into a ballast leg) Period fixing has also been scarce but is apparently on subs but no details reported” mentioned Fearnleys.
Meanwhile, in the Handy side, “the market remained variable. Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get over USD 20k/day, whilst USG/FE was worth above USD 25k/day. Average of TC routes closed at USD 11502 today and was still USD 1500 higher than similar index for the Panamax tonnage. Pacific market has been weak and falling. For Indo-India, large eco Supra can fetch close to USD 10k + BB USD 150k bss APS Indo. Nickel ore cargoes are not seen in market anymore due to on-going Indonesian ban which has again taken away cargoes and putting pressure on market. Nopac also fixed under USD 10k dop Japan. Indian iron ore market remains quiet with less activity. WCI-China rates around USD 10k 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 fixed high teens. Not much activity on short period and rates around USD 11k for large Supra” said the shipbroker in its report.
Finally, on the Panamax front, it noted that “intoxicated by some areas being tight for tonnage, Owners predict an Atlantic market on the rise despite falling indices. Transatlantic rounds from 12-14k depending on position and direction. Some Chrtrs have had a fair challenge to cover fronthaul buiz where levels are around 18k via COGH. Overall the Western hemisphere seems fine tuned with a few fresh mineral requirements and so far limited volumes of June grain cargoes out of ECSA. Fair activity in the Pacific where Owners have been eager to cover a growing list of positions in a sliding 8000 dollar market mid-week. With reduced hopes for a recovery in European economy and a slowly falling forward curve, period interest is limited. Only Owners willing to give wide spreads or options could find period takers for efficient tonnage in the 10k area” concluded Fearnleys.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
Friday, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000 Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...
Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy
The market remained variable.
Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...
Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...
Tuesday, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
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- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
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