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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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Monday, 10 September 12
TNPL, AN INDIAN PAPER MAKER IS SEEKING FOR 300K MT OF IMPORTED NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint & Papers Ltd. , an Indian paper maker, is seeking 300,000 metric tons ± 5% (In 6 Shipments about 50,0 ...
Monday, 10 September 12
ORPHEUS ENERGY SECURES INDONESIAN COAL TRADING LICENSE
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced today that the Indonesian Ministry of Energy and Mineral Resources h ...
Monday, 10 September 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY / HELLENIC SHIPPING
The European Central Bank left its interest rate unchanged at 0.75% focusing on pushing down borrowing costs in troubled economies, Spain and Italy. ...
Sunday, 09 September 12
H213 SUB-BIT FOB INDONESIA COAL SWAPS ARE TRADING HIGHER
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 0.14 percent W-O-W on 7 September 2012, Friday closing but gained ...
Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
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- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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