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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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Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
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- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- The University of Queensland
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
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