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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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Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
Tuesday, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- The University of Queensland
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Minerals Council of Australia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
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