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Thursday, 22 November 12
DRY BULK MARKET RISE, BUT OUTLOOK SEEN DIM ON THE BACK OF RECORD NEW BUILDING DELIVERIES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market has been under hefty pressure since the start of the year, as a result of record newbuilding deliveries and below-par demand for cargoes, which haven't been offset that much by the record pace of ship demolition activity. As a result, the industry's benchmark has been hovering around subdued levels for some time now. Yesterday, the BDI (Baltic Dry Index) was up by 7 points to 1073, as a result of a rebound in Panamax activity, which together with the rise of the Supramax segment, were able to negate the rapid fall of the Capesize market.
Commenting on the Capesize segment, the latest weekly report from shipbroker Fearnleys noted that "with last 5 trading days showing only marginal fluctuations in levels concluded despite increased volumes, sentiment again turning nervous as improved activity fails to lift spot. Far East appears the most vulnerable, with rates for the WAust/China trade falling 10% and general Pacific rounds almost 15% w-o-w. Atlantic remains the bright spot in comparison – but with more speculation of massive volumes to be moved from Brazil during December than actual fixing, a steady flow of ballasters could soon change this picture. Support from paper levels combined with owners seeking predictable income for 2013 have allowed for limited period activity - representative fixtures include 175k dwt/built 2011 done for 10-14 months with delivery China mid Dec at USD 11250, 175k dwt/built 2010 delivering China prompt for 11-17 months at USD 11350, and 180k dwt/built 2011 delivery China prompt for 11-18 months at USD 11250" said the shipbroker.
On the Panamax front, Fearnleys added that "the last week has been strong for the Panamaxes both in Atlantic and Pacific. A sudden shortage of ships for early positions in Atlantic have driven transatlantic rounds up to around USD 8k, much thanks to coal cargoes from US and also some more grain cargoes from South America. Fronthaul on the other hand is not quite as busy, but both USG/China and ECSA/China fetching around 14500+450k ballast bonus. It was reported a period fixture with Atlantic delivery of 11/13 months at USD 8500. In the Far East there is enough activity for the market to slowly move upwards even though there are plenty of ships available. Coal to China is probably the main driver. A Pacific round pays around USD 8500, but maybe more interestingly the short period market in Feast pays around USD 7750 indicating that market players doesn´t really believe in this market for the longer term" the shipbroker concluded.
Finally, on the Handy front, it said that "the north Continent is seeing plenty of tonnages but lack of cargoes. TA business are around 11k and fronthaul is around 17k.Tonnages has tightened slightly in the US Gulf. For USG - SE Asia/Far East large eco Supra fixed at USD 18k. The Indian iron ore market remains quiet with less activity on WCI & ECI. India/China tct rate would be around USD 5k. Far East continues to be on positive side, 56k dwt fixing passing Spore for nickel ore RV at USD 13500. For Indo-India, large eco Supra now fixed at USD 12500 bss passing Spore. South Africa has been quiet this week. Red Sea fertilisers to India are fixed high teens" it said.
In a similar report, Piraeus-based shipbroker Shiptrade & Services said about the Supramax front that "positive news for the Supramax market, especially in the Atlantic basin, where a number of fronthauls from the USG in combination with the tonnage shortage in the area pushed the BSI at 674 points. Trips from the USG to FEast are expected to pay around USD 16,000 for large-eco Supras, whereas trips with redelivery Continent expect to pay around USD 11,500. On the other hand, the Cont/Med market still suffers of oversupply of Supras resulting to a large number of spot vessels. However, scrap cargoes ex Continent to Emed are regulars, with rates fluctuating around USD 8,500 - 9,000. A number of ballasters towards Gibraltar are expected in order to pursue better cargo availability.
Admittedly, in the Pacific Supramax market, the only support comes from the Indonesian cargoes, whereas the India market has been on the quiet side for another week, however, with significantly good volume of coal and nickel ore cargoes. NOPAC rounds pay approximately USD 8,000 plus a ballast bonus USD 300k. The Indian market is still stable, with Supras being fixed for Indo/India orders with delivery Singapore at levels around USD 10,500 and redelivery ECI. The Indian Iron Ore to China is expected to pay around USD 5,750 but on low volumes, whereas, no change has been observed for another week on the RBCT round, with rates still at USD 8000 + 200K ballast bonus. A small increase in short period requirements has been seen, with rates for large and eco Supras hovering around USD 8,500 to 9,000 levels" it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 03 November 15
API 5 FOB NEWCASTLE COAL SWAPS DECLINE CONTINUES
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery slid $1.84 per ton (4.34%) month over month to US$ 40.54 per ton. The swap ...
Tuesday, 03 November 15
EU OIL MAJORS FACE FURTHER EARNINGS DECLINE IN Q415 - FITCH RATINGS
The sharp drop in major European oil companies' third-quarter profits is likely to be extended in the fourth quarter as refining margins, which ...
Monday, 02 November 15
DESPITE CHALLENGING MARKET CONDITIONS, ADARO LOWERS COSTS, DEBT AND DELIVERS STRONG FREE CASH FLOW
COALspot.com: Despite challenging market conditions, Adaro lowers costs, lowers debt and delivers strong free cash flow.
The Indonesia’s ...
Monday, 02 November 15
CFR SOUTH CHINA COAL SWAPS CLOSED ON A WEAK NOTE
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.81(3.71 %) per ton month over month.
A commodity swap ...
Sunday, 01 November 15
THE FREIGHT MARKET SENTIMENT REMAINS WEAK
This week’s freight market sentiment remains weak compared to last week.
The Baltic Dry Index (BDI), an economic indicator issued daily ...
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- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
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