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