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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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Sunday, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
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- Aditya Birla Group - India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- The University of Queensland
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
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