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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, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
Thursday, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
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- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Minerals Council of Australia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- The University of Queensland
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
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