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