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Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, with a few exceptions. It’s true that from mid-March and up until the end of April, the industry’s benchmark, the Baltic Dry Index (BDI) managed to recover the losses it sustained during the first couple of months of the year, when it plunged to multi-decade lows. But, as it turns out the past couple of weeks, the BDI has been unable to inch forward, remaining relatively flat.
During the course of the previous week, the BDI rose by 0.3% last week, with the Capesize index increasing by 1.2%. The largest gainer was the Handysize index, which was up by 3.7%. By contrast, the Panamax Index fell by 3.6%, while the Supramax Index was down by 0.4%. Iron ore inventory at Chinese ports was mostly flat, price moved lower on risk-off. Steel stockpiles fell further, but remained at elevated levels while price moved marginally lower. Thermal coal inventory rose, while prices remained unchanged in the Chinese market.
Yesterday, the BDI was unchanged at 1,141 points with very few movement across the board. The Capesize Index was down by 7 points to 1,626 points, while the Panamax Index also fell by 5 points to 1,269 points. On the other hand, the Supramax Index was up by 5 points to 1,113 points and the Handysize Index was up by 5 points to 644 points, recovering from the lows of the beginning of the year.
In its latest weekly report, shipbroker BRS noted that in the Capesize market, “there was some firming in the Pacific this week with Hedland-Qingdao reaching $7.75, a 2.5% increase on the previous week. However elsewhere the picture was less active - an increase in the Atlantic mid week evaporated by the end of the week and rates finished on Friday little changed or slightly down. Tubarao-Qingdao also eased off, losing around 1% to finish at $20.30. A decline in coal fronthauls has removed what had otherwise been a good boost to the market. Overall the 4TC ended slightly up at $8,841, a rise of $246 over the week, while in the paper market, June, Q3 and Cal13 reported modest losses, losing -$300, - $200 and -$300 on the week. The 4TC recorded a 64 point drop on Monday” it said.
Meanwhile, as it mentioned “the Panamax 4TC market eased by $400 per day this week and closed at around $10,200 on Friday. The only route that gained ground was the fronthaul round which traded close to $19,000 and takers were keen to fix for minerals out of Cont and grain out of ECSA and even USG. In the Atlantic and Pacific, ships were traded at $12,000 and $8,000 respectively ($1,000 less than the week before) and the short period was paying a touch over $10,000 for ships delivery North China redelivery worldwide. The Indian market eased this week with the monsoon hitting the west coast, pushing vessels that were open in the area to ballast to ECSA where they were getting paid close to $10/11,000 dop basis” it mentioned.
Finally, on the Supramax/Handy size markets, it noted that “the BSI was very stable last week, losing only 4 points, but if we analyse what happened in both basins, we note a completely different scenario between the Atlantic and the Pacific. US Gulf/Skaw-Passero gained 10% Friday to Friday to finish the week at $22,135; on the Continent there is a small number of Supramaxes available for spot loading, and for scrap to the East Med Supras are asking about $15,000 while high teens are being done for redelivery Singapore/Japan. In the south Atlantic, the picture is different: there is more prompt tonnage available, and Supras are getting fixed in the $12,000 range for delivery West Africa TC trip via ECSA with redelivery Med, and about $18,000 for redelivery Far East. The Pacific market has been rather subdued this week and has led to time charter rates plummeting. The falling rupee has applied the brakes to Indian coal imports. In addition, the approaching monsoons have all but stopped the export of iron and mill scale. Freight for Indo/WCI is now close to $13 pmt, equivalent to a fall of almost 40% in a month. The Indonesian nickel ore ban, combined with the increased taxes on coal, has led to lower export volumes. This is further hurting an already depressed market” it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
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 ...
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- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
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