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Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1.89% to 972 points. The Baltic's capesize index was up five points to 1,145 points, with average daily rates for capesizes up $66 at $3,486. The Baltic's panamax index gained 0.37 percent, with average daily earnings up $31 at $8,699. Average daily earnings for handysize and supramax ships were also up, at $10,111 and $11,980, respectively.
In its latest weekly report, shipbroker Fearnleys said on the Capesize market that “another dismal week passes with Cape rates falling marginally. There is resistance to a further fall, but this is related to the bunkers having stabilized, thus there is little or no room for a further fall. Talks of Major Japanese owners considering cold layup of parts of the fleet, is good news, but more will need to follow if the market is to improve. The major operators continue to roll over their fleets, redelivering expensive vessels, and fixing in cheaper ones, thus we see continued activity for short period, with big optionality spreads. Volumes in both iron ore and coal are good, but there are just too many ships entering the market” said Fearnleys.
In a similar report, Shiptrade Services mentioned that “in the Atlantic market, the fronthaul closed at USD 18,750 reporting a decline of USD 1,750 mainly due to the absence of fresh cargoes and the heavy competition of tonnage at the area. The same reason affected negatively Transantlantic round which ended up at USD2,750 recording a downfall of USD 500. The same negative sentiment prevailed in the Pacific basin with the Far East round trips closed at USD 4,000” it stated.
On the Panamax front, Fearnleys noted that “the European crisis is not over after the Greek election. Demand for coal and steel production is down considerably from last year in the Western hemisphere. Added by a question mark to Chinese imports both for coal and iron ore, the overall sentiment is not only affected by oversupply. The Atlantic is fine-tuned but toppish with a steady flow of fresh requirements and less open positions. Rates hover at 10k for a T/A round and 17k+ for a long trip out. Driven by SE Asian coal the owners finally get a better return in the Eastern hemisphere. 7-8k average for rounds and five figures obtainable for ECSA rounds basis India/Singapore range. Period activity is low but levels have come up to 9-10k depending on delivery and specs. Owners are reluctant to relet longer period despite a flat almost non-moving forward curve for the next 12 months” it stated.
Similarly, Shiptrade mentioned that “after the slow beginning of the week with lack of fresh cargoes and quite a few owners inevitably ballasting their vessels to Atlantic region, we saw some movement and a hint of pessimism mainly in the midweek with some very attractive rates. Transatlantic round closed at about USD 9,5/10,000 whilst fronthauls were fixed at levels of USD 17/18,000. In the Pacific basin this week started rather more aggressively. Indonesian and Australian cargo trading moved in satisfactory levels whereas NOPAC overall picture was not much positive in a continuation of last week’s low levels. However, we saw a respectful increase in the coal market on the Indo-South China route. As far as numerical terms are concerned, Indonesian and NOPAC rounds were fixed at the region of USD 5,5/6,000 and the period market also moved more or less at the same levels of USD 6,000” the Piraeus-based shipbroker noted.
Finally, on the Handy markets, Fearnleys stated that “slightly positive tendency for Supras in the Atlantic. Skaw deliveries fixed. Close to USD 6k, vs. low USD 5k last week for direction US Gulf. Return trips fixed USD 26k, up another USD 1k from last week. Fronthauls climbed steadily during the week, with prompt positions fixed USD 22k, up about USD 2k in a week. Rates for Supras open in SE Asia are firmer for prompt dates. Indo rounds can achieve USD 7-8k. A 57k dwt fixed USD 9k dop Thailand for an Indonesian coal cargo to EC India. Rates to WC India would be higher. There has been a force majeure declared at the iron ore loading port of Mormugao, which along with the prevailing monsoon will further pressurize rates. WCI-China rates are around USD 8k, slightly lower for S.African rounds, ECI-China rates are around USD 6.5k. Supras for short period is trading around USD 9.5k delivery China. Supras in the Red Sea are rating just under mid-teens for trip to India with ferts. There have been limited Nopac enquiries” the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
Tuesday, 12 June 12
ITACHA RESOURCES BUYS SARANA MARINE - INSIDER STORIES
Insider Stories reported that, coal mining company PT Itacha Resources, a joint venture between Anthoni Salim and Glenn Yusuf, announced that Itacha ...
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- Heidelberg Cement - Germany
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- The University of Queensland
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Planning Commission, India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
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