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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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Sunday, 27 May 12
THE FREIGHT MARKET FROM INDONESIA TO INDIA WAS WEAK - VISTAAR
COALspot.com - The BDI continued to fall for the fourth straight week and the BDI fell by 9.38 pct this week closing at 1,034 points.
The Cape Si ...
Sunday, 27 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS HEADING TO SOUTH DIRECTION
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries have dropped this week by 5.43 percent an ...
Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profita ...
Thursday, 24 May 12
DRY BULK MARKET RETREATS ON LACK OF CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated yesterday on the back of lower Chinese demand for commodities such as coal and iron ore, typically hauled by dry bulk ...
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 ...
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- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- The University of Queensland
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Planning Commission, India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
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