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