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