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