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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, 11 August 12
SUB-BIT INDONESIA COAL SWAPS SEEN MOVING IN THE RIGHT DIRECTION
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.29 percent W-o-W on Friday (10 August 2012) closing but lost 1 ...
Friday, 10 August 12
DRY BULK MARKET DROWNING FROM TONNAGE OVERSUPPLY - HELLENIC SHIPPING
The dry bulk market has been overflowing with new building vessels, despite the fact that demand is more or less (and minus the seasonal factors) ri ...
Thursday, 09 August 12
3RD ANNUAL SHALE GAS
Press Release - With the North American shale gas boom, IBC’s 3rd Annual Shale Gas explores optimal strategies to monetize Asia’s domest ...
Wednesday, 08 August 12
EXPLOITASI AIMS TO RAISE RP 2.7T FOR ACQUISITION - THE JAKARTA POST
The Jakarta Post reported that, publicly listed coal miner PT Exploitasi Energi Indonesia (CNKO) is seeking to raise Rp 2.7 trillion (US$286.2 milli ...
Tuesday, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
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- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- The University of Queensland
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
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