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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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Friday, 29 May 15
COAL PRODUCTION IN THE U.S. ALMOST FLAT THIS PAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.1 million short ...
Friday, 29 May 15
SOUTH KOREAN STATE-OWNED UTILITY KOREA MIDLAND POWER INVITES BIDS FOR 780K MT OF COAL FOR H2' 15
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 780K Metric Tons (MT) of HCV and LCV ...
Thursday, 28 May 15
TIMEBAR FOR DEMURRAGE CLAIMS - SKULD
KNOWLEDGE TO ELEVATE
English law has traditionally had a strict approach to contractually agreed time bars between commercial parties as well ...
Wednesday, 27 May 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Earlier in the year I looked at how the market was reacting to the prolonged fall of the price of oil. Back then it was still unclear if the fallin ...
Tuesday, 26 May 15
HOW HAS THE DROP IN OIL PRICES AFFECTED OTHER COMMODITIES? - CLYDE & CO
KNOWLEDGE TO ELEVATE
The effects of the dramatic drop in the price of both Ice March Brent, the international oil marker, and its US counterpa ...
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- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Australian Coal Association
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- PTC India Limited - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
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