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Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market during the past 10 consecutive sessions, bringing the industry’s benchmark, the Baltic Dry Index (BDI) down to 878 points yesterday, losing another 26 points or 2.88 percent, which is the lowest since March. The Baltic's capesize index fell by 3.54 percent to 1,252 points with average daily earnings for capesizes, dropping to $4,526. Similarly, The average daily earnings for handysize and supramax ships fell to $8,912 and $10,539, respectively. Finally, Baltic's panamax index dipped 2.23 percent to 877 points, while their average daily earnings fell $162 to $6,976.
In its latest weekly report, shipbroker Fearnleys noted on the Capesize market that history is made as this segment hits its absolute lows so far this year. With average spot earnings falling another 15% w-o-w to come in at USD 4500/day and demand continuing to be far from sufficient to employ a growing fleet, tonnage keeps piling up in all areas. Atlantic is taking the hardest hit, as ore and particularly coal exports have to a large extent become paralyzed by traders panicking in their efforts to sell cargoes already loaded and bound for China. An ongoing Euro crisis coupled with negative news from the Chinese steel industry gives no reason to expect conditions to improve near-term - clearly reflected in FFA levels - and rates for modern 175,000-tonners are now down to well below USD 10k for 5-8 months mentioned Fearnleys.
On the Panamax market it noted that we left last week on a slow note, and continued into this week with the same pace. London was closed on Monday and Tuesday which contributed even further. We hear rumors of at least 30 Panamaxes just lying outside China fully loaded with coal. The traders are not able to sell it due to record high stockpiles in Chinese ports. A few fronthaul orders surfaced in the market and vessels willing to go FEast still achieved quite good rates, whilst transatlantic biz is scarce with most being done on aps or voyage basis. Charterers are rating vessels around 8k for transatlantic biz, and about same levels for Baltic rounds. In the Pacific the rates are low and not a lot of orders in the market. Indo and Pac rounds are paying around 5k. The period market is not very active as few owners are willing to charter out their vessels at the low rates chrtrs are currently offering. Would put short period around 8k for LME´s said Fearnleys.
On the Handy markets, the shipbroker stated that with holidays in some European countries start of the week and Posedonia at the same time, it resulted in less activity compared to last week. Continent positions fetched tick above USD 5k for US Gulf redelivery, and US Gulf fixed close to USD 25k back to Cont. Fronthauls hovered at around USD 19k. The Pacific market has been slipping with still bottom to be found. For Indo-India, large eco Supra now fixed at USD 5k + BB USD 60k basis APS Indonesia. Nickel ore cargoes are not seen in the market anymore due to on-going Indo ban which has again taken away cargoes and putting pressure on the market. Nopac also fixed basis APS at USD 10k + 300k BB. Indian iron ore market remains quiet with less activity; WCI-China rates around USD 8k and ECI-China around USD 5k. 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 9k for large Supra concluded Fearnleys.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
Saturday, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
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- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- White Energy Company Limited
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- The University of Queensland
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Australian Coal Association
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
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