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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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Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
Saturday, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
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- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- PTC India Limited - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
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