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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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Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
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- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- The University of Queensland
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
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