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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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Wednesday, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
Saturday, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.
The BDI was marg ...
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- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- The University of Queensland
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Australian Coal Association
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
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