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Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as this week the tide has turned once again. Yesterday, the BDI was again down by 11 points to just 752 points, dangerously close to the lows of the end of 2008, when the global trade was essentially brought to a halt. All major shipping markets within the dry bulk industry were down yesterday, with the larger vessels losing the most.
According to the latest weekly report by shipbroker Fearnleys, Capesize owners “are again turning nervous after a period of increased activity and consequent climbing rate levels. Despite an ongoing flow of particularly West Australian ore cargoes, levels again ease off as the tonnage surplus proves more than sufficient to cover positive spot volume fluctuations. With national holidays in China coming up next week, a w-o-w improvement in average daily earnings of USD 1400 (or 24%) to USD 7300 presently looks apt to stop and turn south again as both fundamental spot and paper sentiment is overall negative. Historical seasonal expectations have not convinced major players to any large extent, resulting in low period activity” the report said.
On the Panamax front, it was “yet another week of softening rates in the Atlantic. A Baltic round was reported fixed on TC at USD 500 per day for a nice/modern vessel and voyage business in the Atlantic is regularly fixed at TC equivalents below zero. Front haul is also softening; USG struggles to absorb all the ballasters from the east, last done for USG/China is 12k+200k aps. On the positive side Vale have been busy covering several iron ore shipments from Tubarao to China, but not even this seems to be able to have a positive effect on the market. The Pacific is better than the Atlantic. In anticipation of holidays in China next week fresh cargoes makes sure that ships are able to fix nopac and Australia rounds around USD 5k per day. Period market is very silent. FFA forward curve slides a bit every day and it seems we are at a point where owners rather wait with their period fixtures” Fearnleys said.
Concluding its analysis of the dry bulk markets, the shipbroker said on the Handy/Supramax front, that “yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent money. For trip to USG they are fetching around USD 3k, while ships open in USG are being fixed in region of USD 12k. If you´re willing to send your ship to a less paying market in the Feast you can achieve about USD 15k for a front haul with Continent delivery. The Pacific market is getting weaker with upcoming Golden Week holidays. For Indo-India, large eco Supra now fixed at USD 9k for dely Singapore. Nopac also fixed bss APS at USD 8k + BB 375k. Indian iron ore market remains quiet with less activity on WCI & ECI. WCI-China rates around USD 5k and ECI-China around USD 4k. RBCT rv fixed at APS USD 8k + BB USD 250k. Red Sea fertilisers to India are fixed high teens. Not much activity seen on short period and rates around USD 9500 for large Supra” Fearnleys noted.
Meanwhile, in a report from Citigroup released this week, it was predicted that supply of iron ore into the seaborne market will rise 15 percent in the current half, compared to the first half of the year, as both Vale and Rio Tinto are expected to increase production. Supply will climb to 470 million metric tons of the steelmaking raw material, compared with 410 million tons in the first half and 440 million tons a year earlier, Citi Research said.
In a separate report, released by Standard Chartered Bank, it was said that China will become increasingly dependent on imported iron ore propping up international iron ore prices in the next 10 years as the nation's steel demand runs high and domestic iron ore's iron content continues to shrink. China's demand for steel is expected to rise until 2025, Standard Chartered predicted, which is five years more than previous forecasts. Steel demand from the construction sector is to fall starting 2014, giving way to demand from the manufacturing sector. China's domestic iron ore cannot meet demand from the steel industry as output is tipped to remain steady in the years to come after climbing to 1.32 billion tons in 2011, which was five times the amount recorded in 2000. Standard Chartered predicted that China's iron ore output would grow 11% annually from 2012 through 2015 and begin to drop in 2016. Moreover, Chinese iron ore's iron content currently stands at 20%, down significantly from 30% in 2004 and well below Australian and Brazilian ore's 60%. Standard Chartered predicted that Chinese iron ore's iron content would sink to 15% by 2026.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
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- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
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- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Planning Commission, India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
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