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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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Saturday, 25 August 12
INDONESIAN COAL SWAP REMAINS STABLE AT LOW LEVEL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery gain 0.804 percent W-o-W on Friday (24 August 2012) closing but lost 0. ...
Thursday, 23 August 12
INDONESIA-INDIA, LARGE ECO SUPRA FIXED AT USD 6K FOR DELIVERY SOUTH CHINA - FEARNLEYS AS
Handy
The market continued the same trend as last week, low activity and holidays in some countries.
Rate wise unchanged, with US Gulf/Continent ...
Thursday, 23 August 12
EGCO GROUP EXPANDS TOWARDS INTEGRATED ENERGY BUSINESS WITH INVESTMENT IN INDONESIAS COAL MINE
Electricity Generating Public Company Limited or EGCO Group, the Thailand’s first Independent Power Producer has continually invaded foreign m ...
Thursday, 23 August 12
EGCO GROUP ANNOUNCES 2 BILLION BAHT PROFITS IN Q2/2012
Successfully Establishes Integrated Energy Business and Strengthen Investments in ASEAN
Mr. Sahust Pratuknukul, President of Electri ...
Monday, 20 August 12
CHINESE COAL SWAPS RISE, INDONESIAN COAL CONTRACTS SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost -2.05 percent W-o-W on Friday (17 August 2012) closing but gained ...
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- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- PTC India Limited - India
- Planning Commission, India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
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