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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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Sunday, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
Saturday, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
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- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- The University of Queensland
- White Energy Company Limited
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
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