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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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Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
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- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Minerals Council of Australia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
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