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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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Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
Saturday, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
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- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Vedanta Resources Plc - India
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