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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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Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
Sunday, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
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- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Planning Commission, India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Parliament of New Zealand
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
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