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