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