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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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Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
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- Videocon Industries ltd - India
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
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