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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, 21 March 14
MERCURIA ANNOUNCES ACQUISITION OF J.P. MORGAN PHYSICAL COMMODITIES BUSINESS
COALspot.com: Mercuria Energy Group announced that it has reached a definitive agreement with J.P. Morgan Chase & Co. to acquire its physica ...
Thursday, 20 March 14
CAPESIZE: WEST AUSTRALIA TO CHINA RATES HAVE CLIMBED BACK TOWARD USD 11 PMT - FEARNRESEARCH
Handy
From a slight improvement in the Atlantic to a more mixed picture this mid week. North Atlantic rounds showing softening signs whereas S ...
Wednesday, 19 March 14
INSTEAD OF DECIDING WHETHER THE GLASS IS HALF FULL OR HALF EMPTY, I AM CURRENTLY GLAD THERE IS WATER IN THE GLASS - EVA TZIMA
By Eva Tzima
Research Analyst
Intermodal Research & Valuations
Right when you think that you have all your facts straight, right wh ...
Wednesday, 19 March 14
EUROCOKE SUMMIT 2014
Press Release: ThyssenKrupp, Steel Institute VDEh, SSI and more headline Smithers Apex’s Eurocoke Summit
The leading coke, coal and s ...
Wednesday, 19 March 14
DRY BULK MARKET REBOUND LEADS TO MORE NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The steady rise of the dry bulk market, as evidenced by the return, yesterday, of the Baltic Dry Index above the 1,500-point mark (1,518), is fu ...
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- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
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