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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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Sunday, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
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- Planning Commission, India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
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