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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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Thursday, 12 June 14
CONSOLIDATION IS THE ' NAME OF THE GAME' WHEN IT COMES TO SHIPYARDS ACROSS ASIA - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Intense competition, a swelling of new greenfield shipyards over the past few years mainly in China, especially prior to the 2008 global financial ...
Wednesday, 11 June 14
INDONESIA'S COAL EXPORT VOLUME AND REVENUE SLIPS 2.75% AND 6.73% RESPECTIVELY IN APRIL
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.8* b ...
Wednesday, 11 June 14
BPI TOUCHING A NEW LOW FOR THE YEAR
The Dry Bulk market closed off the week positively, on the back of firming Capesize rates, while the market overall continues to face a very challe ...
Monday, 09 June 14
GOVT GETS TOUGH ON ILLEGAL MINING, SUSPENDS LICENSES - THE JAKARTA POST
The government has temporarily suspended the licenses of 62 mineral and coal transportation companies as part of its efforts to curb illegal mining ...
Monday, 09 June 14
INDO SUB-BIT COAL SWAPS FOR Q3,Q4 OF 2014 AND Q1 2015: LOST ON DAY AND MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 continue last week’s trend or lost on day, week and on month according to Asia ...
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- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Planning Commission, India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
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