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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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Wednesday, 10 October 12
TAPPING OPPORTUNITIES WITHIN GLOBAL ECONOMIC PERSPECTIVE
Press Release: Mining sector will continue to play a significant role in supporting industrial and economic development in Indonesia which is curren ...
Tuesday, 09 October 12
REALM RESOURCES RECOMMENCES DRILLING AT KATINGAN RIA COAL PROJECT
COALspot.com : Realm Resources Ltd. (ASX) has announced that it has commenced work on the phase three technical programme at its Katingan Project in ...
Sunday, 07 October 12
INDONESIAN GOVERNMENT DECLARED HBA FELL AGAIN IN OCTOBER
COALspot.com - The Indonesian government’s declared coal reference price has lost US$ 0.17 per MT M-M.
The monthly coal referen ...
Saturday, 06 October 12
CFR SOUTH CHINA COAL SWAPS FOR DECEMBER'13 DELIVERY GAINED 1.3 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery gained 0.098 percent and 0.164 percent W-W and D-D respectively o ...
Saturday, 06 October 12
FREIGHT MARKET IS LIKELY TO PICK AFTER THE HOLIDAYS IN CHINA - VISTAAR
COALspot.com - The freight market appeared to be seeing some increase BDI up by 14.23 pct closing at 875 points. The Cape and Panamax index also saw ...
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- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- The University of Queensland
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
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