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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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Friday, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000 Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...
Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy
The market remained variable.
Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...
Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...
Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...
Tuesday, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
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- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
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