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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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Monday, 07 May 12
INDONESIAN HBA FALL AGAIN IN MAY 2012
COALspot.com - Indonesian HBA fall again to lowest level since January 2011 in May 2012. The monthly coal reference price for coal sales in Ma ...
Sunday, 06 May 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA SWAPS SLIGHTLY DROP THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries slightly dropped this week.
According ...
Sunday, 06 May 12
S7 & S8 ROUTES LIKELY TO BE FIRM NEXT WEEK VISTAAR SINGAPORE
COALspot.com - The BDI remained flat this week and was up just by 1 point closing at 1,157 points.
The cape size index was up by 5.14 pct closing ...
Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral ...
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 ...
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- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Planning Commission, India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
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