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Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index (BDI) has failed to rise and instead has kept falling since the end of the previous week. Yesterday, the BDI was down by 3.65% or 36 points to 950 points. It was the seventh consecutive day of falls. The Panamax segment was the biggest loser, with the respective Baltic Panamax Index (BPI) retreating by 3.87% to 969 points, as a result of lower fixture activity in both the Atlantic and Pacific basins. Apart from the Panamax market, things are also grim in the Capesize front, with the Baltic Capesize Index retreating by 2.54%, with average daily earnings falling to just $5,292, which is the lowest in two months.
Commenting on the Capesize market, shipbroker Fearnleys mentioned in its latest weekly report that it has been heading “towards all-time lows again, as worldwide spot demand shrinks on a series of negative developments in fundamentals. With China now failing to deliver as far as raw materials imports are concerned, combined with a steady flow of new tonnage ex yard, sentiment is gloomy and the situation cannot be described as anything but dramatic. Average spot values are down 33% w-o-w, daily returns for fronthaul have dropped USD 4k to come in at USD 22k, and Pacific rounds are down 20% to USD 5600 - for those ships that are lucky enough to find cargo at all. Paper values have fallen dramatically, putting an effective stop to most period fixing - with the exception of 170k/2009 spot Singapore reportedly done for 12 months at USD 12,500 to major Europeans” said Fearnleys.
In a similar note, Shiptrade Services stated earlier that “the Atlantic market saw a significant decline on rates mainly due to lack of new requirements combined with the large volume of tonnage at the area. This was reflected on the transantlantic round which fell by USD 3,500 ending up at USD 5,000 as well as on the fronthaul trade which reported a reduction of USD 3,500 closing the week at USD 24,500. The Tubarao/Qingdao route was fixed below USD 20 pmt!, decreased even more than 50 cents. The same negative sentiment in the Pacific basin. The Australian iron ore trade showed minor movement leading the rates to downturn. Period activity remained silent with rates remained steady at around USD 12,250 levels” it mentioned.
Regarding the Panamax market, Fearnleys noted that “the week started with holidays in most European countries and in the US. With everyone back on Tuesday it was a very slow start and the market took yet another dive. It is a limited number of fresh requirements in both hemispheres and owners are starting to ballast into an already troubled Atlantic market. The ECSA grain market, which has kept the Atlantic alive the last couple of weeks, now face softening rates as the ballasters starts to appear ready for June loadings and volumes are low. TArvs now paying around USD 7-8k and the fronthauls are being fixed in the mid teens. In the Pacific as Chinese stockpiles are reported to be full and imports are slowing down rounds are being fixed at around 5k. The period market seems to evaporate as Owners ask under 8k for short period but takers are holding back and hardly anything has been done” it concluded.
On the Handy/Supra markets, Fearnleys noted that it was “another week of few signs for recovery in the Supra segment. Transatlantic voyages kept more or less stable with US Gulf positions fixing at tick below USD 25k/day. Vessels open in Skaw/Gibraltar range willing trip towards the US Gulf were paid around USD 5k. Fronthauls fixed around USD 18k/day. Pacific market has been weak and falling due to lot of prompt available ships and lack of cargoes. For Indo-India, large eco Supra now fixed at USD 6k + BB USD 60k basis APS Indo. Nickel ore cargoes are not seen in market anymore due to on-going Indo ban which has again taken away cargoes and putting pressure on market. Nopac also fixed basis APS at USD 10k + 300k BB. Indian iron ore market remains quiet with less activity on WCI & ECI. WCI-China rates around USD 9k and ECI-China around USD 7k. RBCT rv fixed at APS USD 11k + BB USD 300k. Red Sea fertilisers to India are fixed high teens. Not much activity seen on short period and rates around USD 10k for large Supra” stated Fearnleys.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 12 June 12
ITACHA RESOURCES BUYS SARANA MARINE - INSIDER STORIES
Insider Stories reported that, coal mining company PT Itacha Resources, a joint venture between Anthoni Salim and Glenn Yusuf, announced that Itacha ...
Monday, 11 June 12
BAHANA FORECASTS THE COAL PRICES WILL FALL FURTHER
COALspot.com - Growing US coal supplies + low shipping costs = Asia as target.
According to Irwan Budiarto analyst at Bahana Securities, US ...
Monday, 11 June 12
ASIAN COAL TRADING COMMUNITY EMBRACES API 5 AND API 8
Press Release - The Asian coal trading community is embracing the API 5 and API 8 indexes for its swap contracts.
The API 5 index represents 5,50 ...
Sunday, 10 June 12
FREIGHT MARKET EXPECTED TO REMAIN WEAK FOR NEXT FEW WEEKS - VISTAAR
COALspot.com - The BDI continued to fall this week and down by 2.99 pct closing at 877 points.
The Cape index also was down by 5.78 pct closing a ...
Friday, 08 June 12
ESSAR ENERGY RECEIVES FINAL APPROVAL FOR INDONESIAN COAL BLOCK
COALspot.com - Essar Energy plc, the India-focused integrated energy company, today announced that it has received final ‘Pinjam Pakai’ ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- VISA Power Limited - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
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