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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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- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
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