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