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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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- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
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