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