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