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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, 28 September 12
DRY BULK SECOND HAND VESSELS ON HIGH DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the demise of the dry bulk market and the collapse of freight rates since the beginning of 2012, on the back of record breaking newbuilding ...
Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
Sunday, 23 September 12
AN ANOTHER UNSTABLE WEEK FOR INDONESIAN COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.10 percent and 0.916 percent WOW and DOD respectively ...
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- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
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- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- The Treasury - Australian Government
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- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- The University of Queensland
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
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