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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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Friday, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
Friday, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still stand ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
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- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
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