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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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Tuesday, 12 June 12
ITACHA RESOURCES BUYS SARANA MARINE - INSIDER STORIES
Insider Stories reported that, coal mining company PT Itacha Resources, a joint venture between Anthoni Salim and Glenn Yusuf, announced that Itacha ...
Monday, 11 June 12
BAHANA FORECASTS THE COAL PRICES WILL FALL FURTHER
COALspot.com - Growing US coal supplies + low shipping costs = Asia as target.
According to Irwan Budiarto analyst at Bahana Securities, US ...
Monday, 11 June 12
ASIAN COAL TRADING COMMUNITY EMBRACES API 5 AND API 8
Press Release - The Asian coal trading community is embracing the API 5 and API 8 indexes for its swap contracts.
The API 5 index represents 5,50 ...
Sunday, 10 June 12
FREIGHT MARKET EXPECTED TO REMAIN WEAK FOR NEXT FEW WEEKS - VISTAAR
COALspot.com - The BDI continued to fall this week and down by 2.99 pct closing at 877 points.
The Cape index also was down by 5.78 pct closing a ...
Friday, 08 June 12
ESSAR ENERGY RECEIVES FINAL APPROVAL FOR INDONESIAN COAL BLOCK
COALspot.com - Essar Energy plc, the India-focused integrated energy company, today announced that it has received final ‘Pinjam Pakai’ ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- White Energy Company Limited
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
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