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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, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
Thursday, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
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- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
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