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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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Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
Tuesday, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Planning Commission, India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
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