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