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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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Friday, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000 Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...
Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy
The market remained variable.
Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...
Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...
Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...
Tuesday, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
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- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
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