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Thursday, 02 February 12
NO RELIEF YET FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Although at the start of 2012 nobody can claim that the global seaborne trade has suddenly come to a halt, quite the contrary, it seems that the dry bulk market is reliving those dreadful late 2008 days. The lack of cargo demand, combined with the huge oversupply problems has caused the market to crash by almost 60% during January. The market’s benchmark, the BDI (Baltic Dry Index) kept falling yesterday, to end the session down by another 2.65% to just 662 points.
The only positive factor that one could argue, is the relative stabilization of the Capesize market, which lost just 0.07% yesterday to end at 1,446 points, way above the rest of the field. Panamaxes kept tumbling, this time by 4.14% to just 694 points, while Handysizes, which have been on the red for a few months now, have reached just 396 points (Baltic Handysize Index), losing an additional 2.46% yesterday.
According to the latest weekly report from shipbroker Fearnleys, “the Capesize market continues to be horrible. Rates and activity have not improved even after the Chinese have returned to work after the Lunar New Year holidays. Thus there is little to say in terms freight rate development except that it is flat. There is however an increased interest from short period takers, indicating a sentiment, that this market cannot fall much further, and that the premium payable for short period can easily be recovered if the market rebounds” said Fearnleys.
In a separate note, up to the end of last week, shipbroker Shiptrade & Services mentioned that “the Far East national holidays, the lack of cargoes combined with over supply of tonnage and the cyclones that returned in West Australia resulted in a very slow week in the cape market. Specifically, the average of the four T/C Routes closed the week at USD 5,566, the lowest level of the last eleven months. In spite the fact that with Columbia coal market produced some cargoes, rates for the T/A round concluded at around USD 5,000 and many owners preferred to keep their vessels drifting or at anchorage. The fronthaul was low as well with Tubarao/Quingdao fixing at USD 19,10 levels. Pacific was very quiet due to the holidays with Far East round voyage to be fixed at USD 7,000. Period activity was minimal with rate for 1 year remaining the same as last week’s said Shiptrade.
On the Panamax front, Fearnleys noted that “with the BPI at 694 we are now below the depressing market we experienced at the beginning of 2009. This week we did however see more fresh cargoes, but the tonnage list is just growing day by day. The grain season is about to kick off in Brazil and we see cargoes ready from 2nd half Feb onwards. The activity is still limited and the deals being done are being fixed at very low levels even below operating costs. This has resulted in some owners dropping anchor to wait until they see reasonable levels again. The Tarvs are now being fixed below USD 5k and the fronthauls are fetching around 14-15k depending on delivery. In the Pacific basin the rounds are being fixed around USD 5k. A one-year deal was reported this week with the mv Global Bonanza, 74kdwt/built ´11, being done basis delivery Feast at USD 10k daily” said Fearnleys.
Commenting on the Handy market, the shipbroker said that it was “another week of falling rates. In the US Gulf tonnage were fighting for the few fresh cargoes entering the market. Vessels fixed for Skaw-Passero direction were paid tick below 11k/day, and Continent positions concluded USD 2500 and USD 14k for US Gulf and Far East, respectively. The Pacific market remains quiet in spite of holidays getting over and overall sentiment remains negative. Indo-India fixed at around USD 5k dop south China and nickel cargoes also very less to support the market. Nopac cargoes are also less in numbers and mostly fixed on APS basis. A bit quiet on iron ore from India and rates remain at USD 8k from WCI and USD 7k from ECI. RBCT rounds are fixed on APS basis at USD 10k + 300k BB. Red Sea fertiliser cargoes fixed at low 20s to India. Short period activity very less and rates are around USD 8k” concluded Fearnleys.
In a separate note, Shiptrade mentioned that “ECSA continued its low cargo volume production with the TA round falling at USD 6,000 levels while Med and Continent kept on having many open vessels and very few firm cargoes. In spite the low levels owners preferred to keep their vessels in Atlantic instead of making the fronthaul trip.
Pacific was really slow and the Chinese and Indian holidays produced too many spot vessels and very low rates on the few orders that were fixed with the round voyage concluding at USD 4,000. Charterers persisted in searching for period tonnage but even more decreased levels of USD 7-8,000 were not appealing to owners who avoided committing their vessels said Shiptrade.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Planning Commission, India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
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