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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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Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
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- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
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