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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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Thursday, 04 October 12
CAPESIZE : IN SPITE OF THE HOLIDAYS IN CHINA, RATES ARE CLIMBING UP - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to east Med were around USD 13k and Black ...
Wednesday, 03 October 12
BARCLAYS'S PRICE FORECAST FOR NEWCASTLE COAL HAS BEEN WRITTEN DOWN
“ The main story in the global coal markets has been the growth in supply, with all of the major exporters adding volumes into a market which ...
Sunday, 30 September 12
SUB-BIT INDONESIA COAL SWAPS: MIXED TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 0.73 percent w-o-w but gained 0.41 percent d-o-d on Friday, 28 Se ...
Sunday, 30 September 12
INDONESIA HAS NO PLAN TO CAP COAL PRODUCTION
COALspot.com - “The current low coal prices were mainly due to a global oversupply condition, spurred by numerous mining exploitations in the ...
Sunday, 30 September 12
FREIGHT MARKET UNDER PRESSURE; OVERALL SENTIMENTS ARE STILL BEARISH
COALspot.com - The freight market seemed to have lost steam and all indices were down except for cape index.
The BDI was slightly down by 6 point ...
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- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
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