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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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Wednesday, 10 October 12
TAPPING OPPORTUNITIES WITHIN GLOBAL ECONOMIC PERSPECTIVE
Press Release: Mining sector will continue to play a significant role in supporting industrial and economic development in Indonesia which is curren ...
Tuesday, 09 October 12
REALM RESOURCES RECOMMENCES DRILLING AT KATINGAN RIA COAL PROJECT
COALspot.com : Realm Resources Ltd. (ASX) has announced that it has commenced work on the phase three technical programme at its Katingan Project in ...
Sunday, 07 October 12
INDONESIAN GOVERNMENT DECLARED HBA FELL AGAIN IN OCTOBER
COALspot.com - The Indonesian government’s declared coal reference price has lost US$ 0.17 per MT M-M.
The monthly coal referen ...
Saturday, 06 October 12
CFR SOUTH CHINA COAL SWAPS FOR DECEMBER'13 DELIVERY GAINED 1.3 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery gained 0.098 percent and 0.164 percent W-W and D-D respectively o ...
Saturday, 06 October 12
FREIGHT MARKET IS LIKELY TO PICK AFTER THE HOLIDAYS IN CHINA - VISTAAR
COALspot.com - The freight market appeared to be seeing some increase BDI up by 14.23 pct closing at 875 points. The Cape and Panamax index also saw ...
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- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- The University of Queensland
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
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