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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, 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, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
Friday, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
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- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- The University of Queensland
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