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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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Friday, 09 November 12
SHIP OWNERS TURN TO SECOND HAND VESSELS, WHICH COME AT ATTRACTIVE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The attractiveness of modern second hand vessels, which are often priced aggressively can't be ignored by cash-rich ship owners, who are taking adv ...
Thursday, 08 November 12
LARGE ECO SUPRA : INDO - INDIA NOW FIXED AT USD 11K FOR DELIVERY SINGAPORE - FEARNLEYS
Handy
The Atlantic market continues to remain weak with rates further softening on FH. Rates from USG to Feast were around USD 14k and Black Sea to ...
Thursday, 08 November 12
DRY BULK MARKET RETREATS AGAIN ON HIGHER SHIP SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In further evidence of a latest round of dry bulk shipping misery, the industry's benchmark fell for the 11th straight session yesterday, as the in ...
Thursday, 08 November 12
JOIN CHINA STEAM COAL SUPPLY - DEMAND FORUM
Join China Steam Coal Supply-Demand Forum & Visit Shenhua Yudean Zhuhai Port Coal Terminal
Press Release - Organized by CBI BIZ and suppo ...
Wednesday, 07 November 12
NEWBUILDING ORDERING ACTIVITY ON A STEADY PACE PRIOR TO THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding orders, which to many involved in the shipping industry, are the main reason of today's low freight rates and subsequent financial prob ...
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- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- White Energy Company Limited
- CNBM International Corporation - China
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Planning Commission, India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
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