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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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Monday, 07 May 12
INDONESIAN HBA FALL AGAIN IN MAY 2012
COALspot.com - Indonesian HBA fall again to lowest level since January 2011 in May 2012. The monthly coal reference price for coal sales in Ma ...
Sunday, 06 May 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA SWAPS SLIGHTLY DROP THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries slightly dropped this week.
According ...
Sunday, 06 May 12
S7 & S8 ROUTES LIKELY TO BE FIRM NEXT WEEK VISTAAR SINGAPORE
COALspot.com - The BDI remained flat this week and was up just by 1 point closing at 1,157 points.
The cape size index was up by 5.14 pct closing ...
Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral ...
Friday, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
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- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Planning Commission, India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Australian Coal Association
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
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