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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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Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
Saturday, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
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- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
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