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