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Friday, 20 June 14
DRY BULK MARKET LOOKING FOR UPSIDE ON ROBUST SEABORNE IRON ORE TRADE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market hasn’t been able to justify the heightened expectations this year. Yesterday, the Baltic Dry Index managed to inch forward, rising by 35 points to 902 points, on the back of increased Capesize demand. The Baltic Capesize Index (BCI) was up by 152 points to 1,919. The rest of the submarkets thought were once again on the downside, most notably the Panamax market.
According to the latest report from shipbroker Fearnleys, on the Capesize market there were “glimpses of improvement following days of softening, and consequent surge of conficence for the big ships as major miners keep taking july loaders on the important Brazil/China ore route. Average daily earnings are still down some some usd 2k (to usd 12800) w-o-w, but with the present push on fronthaul iron ore, near-term recovery is expected. Volume on the Waust/China trade remains unimpressive, with freight rates struggling to break the usd 8 pmt barrier and tonnage supply in excess. Paper has taken a hit, with period activity consequently being very limited”.
On the Panamax front, Fearnleys noted, “what a week! We are very close to breaking the all time low record and TA ´s are down 62% w-o-w and now fixing at ard Usd 1k and even below 0 at voyage bss. It is simply not enough cargoes and the activity is extremely low. Chrts entering the market with their cargoes are fixing within 20 minutes and owners are probably better off dropping the anchor at this point. In the Pacific we see the same tendency allthough the levels are a touch higher than in the Atlantic. Pac rounds are now being fixed at ard Usd 3,5-4k. Well below Opex. The period market is fairly active and good kamsarmaxes are able to fetch ard Usd 9k for shorter periods over the summer”, said the shipbroker.
Finally, “the Supra-Handy market is experiencing the same market slow down as its bigger sister markets however not to the same extent. We see TA rates decline with 11,54% w-o-w much caused by a growing tonnage list and few fresh cargoes. The coal and iron ore sales seems to be gone as the majority of cgos being shipped is grains. Also in the Feast the market remains weak even though we see more cargoes entering the market, it is just too many ships competing for the same cgos. Indonesian rounds to Thailand are being fixed at ard Usd 6k + Usd60k GBB bss APS delivery while NoPac rounds are being traded in the region of Usd 9,250+Usd 300k GBB for Supras. Several owners now want to fix out their ships for short periods at a bit healthier numbers than the spot market is showing, but there are not that many takers”, Fearnleys concluded.
Meanwhile, in a note released this week, Commodore Research & Consultancy said that “recently released data shows that average daily crude steel production at China’s key steel mills hit a record high of 1.833 million tons during the first ten days of this month.
Previously, daily crude steel production at China’s key steel mills during the last eleven days of May averaged 1.767 million tons – which was a high level, although down from the previous record of 1.824 million tons seen during the first ten days of May. It is very encouraging that Chinese steel production has set another record this month. As we have continued to stress, Chinese steel production has remained very strong during the last several months. While Chinese steel production normally comes under a small amount of pressure in June (while still remaining at robust levels), it is very encouraging and not surprising that production has set a record this month. As we have been discussing in our Weekly Dry Bulk Reports and Weekly China Reports, demand for steel in China has remained firm as the government continues to green light new infrastructure projects and works towards further stimulating the economy.
In addition, low iron ore prices have allowed profit margins at Chinese steel mills to improve significantly since the start of this year. Global demand for Chinese steel exports has also remained robust, even as global steel production has also set a new record this year”.
It added that “record steel production means record iron ore consumption. Overall, Chinese iron ore consumption has remained robust this year and Chinese iron ore imports have continued to surge. Chinese steel mills continue to purchase a record amount of iron ore imports this year, with Chinese iron ore imports this year up by approximately 20% from last year’s record level. Going forward, Australian and Brazilian iron ore production is set to surge even further and steel mills will continue to happily purchase low-priced high quality iron ore from Australia and Brazil.
At the same time, more Chinese domestic iron ore mines will likely suspend iron ore production as they can’t compete with Australian and Brazilian mines with much lower costs. Seaborne iron ore trade is poised to remain robust”, Commodore concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 23 June 14
INDONESIAN COAL SWAP FOR Q3 DELIVERY LOST 8.60% Y-O-Y;4.80% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 23 June 14
COAL SWAPS DROPS FURTHER MONTH ON MONTH ON WEAK DEMAND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 6.91 percent month on month and closed at US$ 69.00 per mt a ...
Sunday, 22 June 14
THE PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA SLIPPED THIS WEEK
COALspot.com: The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell slightly on Friday ...
Friday, 20 June 14
US WEEKLY COAL PRODUCTION DROPS 1.8% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.3 million short tons (mmst) of coal in a ...
Thursday, 19 June 14
PANAMAX: VERY CLOSE TO BREAKING THE ALL TIME LOW RECORD - FEARNLEYS AS
Handy
The Supra-Handy market is experiencing the same market slow down as its bigger sister markets however not to the same extent. We see TA rat ...
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- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- The University of Queensland
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Planning Commission, India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- White Energy Company Limited
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
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