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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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Thursday, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
Monday, 10 September 12
TNPL, AN INDIAN PAPER MAKER IS SEEKING FOR 300K MT OF IMPORTED NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint & Papers Ltd. , an Indian paper maker, is seeking 300,000 metric tons ± 5% (In 6 Shipments about 50,0 ...
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- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- The University of Queensland
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
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