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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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- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- The University of Queensland
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Planning Commission, India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
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