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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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Wednesday, 27 June 12
DIRECTORATE GENERAL OF MINERAL AND COAL OF INDONESIA INTRODUCES ON-LINE SYSTEM FOR MINING PRODUCTS EXPORT APPROVAL
COALspot.com - Directorate General of Mineral and Coal of Indonesia has released "Clear and Clean" certificate for another 33 coal miners ...
Monday, 25 June 12
RIO TINTO MAKES FIRST COAL SHIPMENT FROM MOZAMBIQUE
Rio Tinto has started exporting premium hard coking coal from its Benga Mine in the Moatize Basin in Mozambique. The first shipment of 34,000 tonnes ...
Sunday, 24 June 12
SUPRAMAX FREIGHT MARKET FIRMED UP FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - This week all the segments gained and marked was firm in the Supramax and Handy size sector, where as the Cape and Panamax inde ...
Saturday, 23 June 12
COAL PRICES APPETITE FOR ROLLER-COASTER RIDES
COALspot.com - SGX AsiaClear OTC Coal Swaps have suffered something of a roller-coaster ride in terms of prices during this week. SGX’s Indone ...
Friday, 22 June 12
PRESENT SPOT WEAKNESS IS TEMPORARY, SEASONAL AND RISE AS WINTER APPROACHES - BUMI
COALspot.com - PT Bumi Resources Tbk, the world’s one of the largest coal producer and Indonesia’s largest multi grade coal miner has no ...
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- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
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