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