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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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Sunday, 23 September 12
INDIA IMPORTED 11.40 PERCENT MORE INDONESIAN COAL IN AUGUST
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 26,451,565* tons of coal in August 2012, compared to 27.88* mill ...
Saturday, 22 September 12
SOFT BUNKER PRICES KEEP INDONESIA TO INDIA FREIGHTS STABLE - VISTAAR
COALspot.com - The freight market overall remained buoyant with all indices up except for Panamax index. The main effect seems to be increased shipm ...
Friday, 21 September 12
SHIP BREAKING ACTIVITY REACHES NEW RECORDS, AS ALREADY 2012 LEVELS HAVE SURPASSED THE WHOLE OF 2011 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The vast oversupply of vessels, most notably in the dry bulk shipping sector, has forced ship owners to intensify their efforts towards recycling th ...
Thursday, 20 September 12
SUPRAMAX : INDO-INDIA ROUNDS WERE AROUND USD 12K - FEARNLEYS
Handy
Not a bad week for Supramax tonnage, if we compare Supramax developments to the bigger size tonnage. The rates have basically remained unchan ...
Thursday, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
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- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- The University of Queensland
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Parliament of New Zealand
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
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