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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, 27 May 12
THE FREIGHT MARKET FROM INDONESIA TO INDIA WAS WEAK - VISTAAR
COALspot.com - The BDI continued to fall for the fourth straight week and the BDI fell by 9.38 pct this week closing at 1,034 points.
The Cape Si ...
Sunday, 27 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS HEADING TO SOUTH DIRECTION
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries have dropped this week by 5.43 percent an ...
Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profita ...
Thursday, 24 May 12
DRY BULK MARKET RETREATS ON LACK OF CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated yesterday on the back of lower Chinese demand for commodities such as coal and iron ore, typically hauled by dry bulk ...
Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
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- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- ASAPP Information Group - India
- Australian Coal Association
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- The Treasury - Australian Government
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
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