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