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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, 28 September 12
DRY BULK SECOND HAND VESSELS ON HIGH DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the demise of the dry bulk market and the collapse of freight rates since the beginning of 2012, on the back of record breaking newbuilding ...
Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
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- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
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