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Monday, 10 September 12
DRY BULK MARKET SLOWLY BUT SURELY REACHING CRITICAL STATUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The radical consequences of the shifts in dry bulk demand and prices, especially for the most sought after commodity, concerning the industry, i.e. iron ore, has kept on this week as well. Yesterday, the industry’s benchmark, the Baltic Dry Index (BDI) continued its decline, losing an addition 9 points and ending the session down to 675 points. The biggest losses were evident in the Panamax segment which lost 30 points, reaching just 617 points (Baltic Panamax Index). By comparison, the smaller ship type of Supramax was down by 8 points in the respective Baltic Supramax Index, which stood at 837 points.
In its latest weekly report on the market, shipbroker Fearnley’s commented on the Capesize market that “a touch of A touch of optimism in the start of the week with good activity out of west Australia around the USD 7.20 level. However, ffa values were turning more negative as we approached mid-week and so did the activity. This obviously also affected short period marked, with bids just below USD 8, 000, with last done being 4-8 months USD 8,250” the shipbroker said.
On the Panamax front it added that “after last week’s continued bearish sentiment we were hoping for some glimmers of positiveness this week. This is not the case and the market in both hemispheres is continuing to drop like a rock. We see owners underbidding and waiting up to 6 days in order to even secure employment for their vessels. Some owners drop anchor waiting for cargos to come. For September loading there are very few cargos in the Atlantic and only a few forward cargos of grains are being quoted in the market. With the draught causing cargos to be cancelled, the horizon does not look very bright. TA´s now being fixed in region USD 2/3k while the fhauls are getting around USD 14k + BB. In the Pacific rounds are being fixed at around USD 4k while backhauls are giving negative return. The period market is almost none existing unless owners are able to offer very flexible periods and options” Fearnley’s noted.
In a separate report, Intermodal’s George Bassakos commented on the recent news that Vale reached an agreement to sell 10 large iron ore carriers (converted from tankers) for a total of $600 million to Polaris Shipping, of S. Korea. The world's second largest mining company, will take the vessels back on long-term charters. “With this sharp and unexpected move, Vale is freeing up capital while in the same time will continue to control flows of iron ore shipments. Vale's move comes at a time of extremely depressed market conditions, especially for the bigger ships, and seems to serve as a shield in current rough seas for Owners. China's denial to accept such mammoths in her ports being another reason for Vale to offload them” Intermodal said.
It added that “in other related news, iron ore prices returned their worst month since October 2011 in August, falling 24%, bringing the decline for the year to date to 36%, falling largely on the back of weakening demand for the steel-making ingredient from China, analysts say. Part of the problem at the moment is the high volume of stocks sitting in Chinese ports - a clear indication that steel demand growth has slowed considerably as mills turn cautious and refuse to hold inventory. As of 17 August, iron ore inventories in Chinese ports were 96.8 million tonnes (mt) (equivalent to one month's domestic use), only 4% lower than the record high of 100.9 mt reported in early February 2012. China’s manufacturing contracted at the fastest pace since March 2009, a private survey showed, indicating the slowdown in the world’s second-largest economy is deepening, Bloomberg reports. The purchasing managers’ index released today by HSBC Holdings Plc and Markit Economics had a final reading of 47.6 for August after a preliminary 47.8 provided Aug. 23. The gauge was at 49.3 in July. The dividing line between expansion and contraction is 50. Furthermore, manufacturing in the U.S. contracted for a third month in August, the longest slide since the recession ended and a sign the expansion is at risk of losing a source of strength. The Institute for Supply Management’s factory index fell to 49.6 last month, the lowest since July 2009, from 49.8 in July, the Tempe, Arizona-based group said.
If you add to all the above, the European debt crisis, which seems to be escalating lately, with no proven solution on the horizon....you get what? The 'perfect Shipping storm' on theatres around the world” the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 12 October 12
INVESTMENT OPPORTUNITIES OCCUR IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although 2012 has by now evolved into one of the most challenging years for global shipping industry, ship owners are scouting the second hand ship ...
Thursday, 11 October 12
SINGAPORE BASED COAL SOURCE AND SHIPPING BAGS 300K MT IMPORTED COAL SUPPLY CONTRACT FROM TNPL
COALspot.com - India-based paper manufacturer Tamil Nadu Newsprint and Papers Limited has awarded a tender for 300,000 mt of imported steam co ...
Thursday, 11 October 12
PANAMAX : SINCE LAST WEEK RATES HAS FIRMED FOR ALL TRADES - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to East Med were around USD 14k and B ...
Thursday, 11 October 12
DRY BULK MARKET STEADY AFTER CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet staged a solid rebound after last week's holidays in China, as many would have expected. Indeed, many analysts were ...
Wednesday, 10 October 12
NEW BUILDING MARKET ON A QUIET WEEK, DUE TO ASIAN HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The newbuilding ordering activity has been more than quite during the course of the past week, as a result of holidays in both Korea and China. Acco ...
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- ASAPP Information Group - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Planning Commission, India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
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