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Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the Supramax Index rising by 22 points, as rates for supramaxes were up by $229 to $12,852. Similarly, average daily rates for Handies were higer by 440 to $10,334. Capesizes also moved to higher ground, as the Baltic Capesize Index was up by 14 points, or $170, with average daily rates now at $3,826. By contrast, the Panamax market has kept on falling, as average earnings yesterday were set at $7,815.
In its weekly report, shipbroker Fearnleys noted on the Capesize market that “bunker prices have stabilized at lower levels and the freight market has seemed to have stabilized, with the exception of the Atlantic which is dismal. The usual large operators have continued to turn over their fleets at stable rates (just below USD 10k daily). The front haul market has also hit a bottom, and is now flat. We do not expect any major movement in the rates and any changes are more likely to be related to bunker cost than to the basic supply and demand picture” it said.
In the Supramax/Handysize markets, Fearnley’s noted that «the Supramax market is still looking very healthy compared to the other sizes of tonnage. In the Atlantic supply of fresh orders helped the rates to reach the range of USD 24-25k for the voyages from USG/ESAM to Continent and Med. Period activity focused mainly on 3/5 or 4/6 months employments for which vessels were paid USD 8.5/10k daily based on the delivery in the East. Pacific market has been steady and looking to remain firm in coming days as rates are getting firm on Indo and Nopac rounds. For Indo-India, large eco Supra now fixed at USD 9k basis South China dely. Some owners also asking for low teens for SE Asia dely. Nopac also fixed bss at USD 10k basis Japan. Indian iron ore market remains quiet with less activity on WCI & ECI. WCI-China rates around USD 8k and ECI-China around USD 5k. RBCT rv fixed at APS
USD 10k + BB USD 350k. Red Sea fertilisers to India are fixed high teens. Not much activity seen on short period and rates around USD 9k for large Supra” the report noted.
Finally, on the Panamax front, it noted that “even though there were fresh cargoes entering the Atlantic it is not sufficient to have any major effect on the rates due to the growing list of available ships. In the Med, the tonnage list is shorter, perhaps giving owners the idea they might achieve good rates, however it is simply not a demand for prompt vessels in this area. More cargoes are appearing in the Atlantic for end July dates, however this is of no comfort to the many owners with prompt positions. Tarvs now being fixed in region of USD 8k. The ECSA market is served by ballasters from India and the Feast were they achieve rates around USD 14.5+475k BB basis APS delivery. Pacific market is quiet but rates seem to be quite stable with Aussie and Indo RV being the prominent trades. As for Nopac, the grain cargos are quite scarce. Rates for rounds are around 5-6k. The period market finds little support and few fixtures are reported this week. Short periods like 4/6 mos are being paid in region of 9-9.5k for Feast delivery” Fearnley’s concluded.
In a relative note, Commodore Research noted the effect of the recent weather conditions (heavy rainfall) in Southern China, with regards to the dry bulk market. Commodore mentioned that Chinese hydropower production has continued to surge and is putting added pressure on demand for thermal coal. With drought conditions finally seeing real improvement, it is possible that hydropower production will approach record levels within a few months. Panamax rates have been most affected by the decline in demand for imported thermal coal cargoes and are poised to come under additional pressure” mentioned the US-based analyst.
It added that “to make matters even worse for upcoming thermal coal demand prospects (and better for hydropower production prospects), southern China is now expected to be hit by another tropical storm. Tropical Storm Doksuri is currently situated east of the Philippines and is expected to head on a northwesterly track towards China. As of now, Tropical Storm Doksuri is expected to make landfall near Hong Kong on Saturday and bring a very large amount of rain to southern China over the weekend. Hydropower production will benefit if the storm continues on its projected path and makes landfall as planned. As hydropower production increases, there will be less demand for thermal coal” the company concluded.
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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- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
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