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