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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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Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
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- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
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