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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, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
Friday, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
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- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Planning Commission, India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
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