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