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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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Thursday, 22 November 12
HANDY: INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 12500 - FEARNRESEARCH
Handy
The north Continent is seeing plenty of tonnages but lack of cargoes. TA business are around 11k and fronthaul is around 17k.Tonnages has tig ...
Thursday, 22 November 12
DRY BULK MARKET RISE, BUT OUTLOOK SEEN DIM ON THE BACK OF RECORD NEW BUILDING DELIVERIES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been under hefty pressure since the start of the year, as a result of record newbuilding deliveries and below-par demand for ...
Wednesday, 21 November 12
LITTLE IMPACT FROM DISSOLUTION OF BP MIGAS ON INDONESIAN OIL & GAS COMPANIES - FITCH
Fitch Ratings has said that the recent court order to abolish the Indonesian upstream oil and gas regulator, BP Migas, has minimal immediate impact ...
Wednesday, 21 November 12
ORPHEUS ENERGY SECURES FIRST COAL OFF TAKE CONTRACT
COALspot.com - Orpheus Energy Limited (ASX:OEG) has announced that it has signed a coal sales contract with an Indonesian steel manufacturing compan ...
Tuesday, 20 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 13.18 PERCENT LESS COAL W-W
COALspot.com - Newcastle port in Australia has loaded 2,691,731 MT of thermal and coking coal for week ended 0700 hours 19 November 2012, Newc ...
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- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
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