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Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pushing the industry’s benchmark, the BDI (Baltid Dry Index) to new lows. As a result, the BDI took a nosedive yesterday to end the session to 1,552 points, losing a total of 4.43% on the day. The biggest contributor to this loss was the Capesize sector, which was down by an impressive 6.33%, while all other sub-segments were also on the red. The Supramax market was down by 1.55%, while the Panamax down by 1.24%.
Commenting on the Capesize market, the latest weekly report from shipbroker Fearnleys said that “for obvious reasons the market in general has been quiet through the holiday season. Few fixtures were concluded last week, and those few were done at lower levels. The early new year sentiment, together with a number of vessels already in ballast has pressed the market down further. The most recent fixtures from West Australia are down from the USD 11+ level to the upper USD 10´s, with a negative trend. On the front haul, the uncovered demand remaining for January is still unclear, as China is only just back at work, but there are not many vessels that can make January cancelling in Brazil. This could keep a bit of pressure on this leg.
The transatlantic market has not woken up yet. Period has been limited to some renewals in direct continuation for 12-month charter, and at flat USD 17-18k level, but this is not believed to be sustainable” said Fearnleys.
Similarly on the Panamax front, it mentioned that “the Panamax market experienced a slow start to 2012 with holidays still in some countries. Lack of trading in both hemispheres and a growing list of spot tonnage made the rates slip even further. Mid week we see some more cargoes in the Atlantic which should lead to more activity, but most likely not enough to stop the downward trend this week. Most of the major charterers cleared out their program prior Christmas, and we do not expect any major upturn in the market until 2nd half of January. Tarvs now being fixed around USD 14k while the front hauls are paid around USD 23/24k level. In the Pacific the rounds are being concluded at low teens. The period market experienced some more activity at the start of 2012, as more takers are there at the present levels. Some owners are willing to give options to the periods which in turn attract even more interest” said Fearnleys.
Meanwhile, in a separate report at the start of the week, ICICI Securities provided its own insight on the trends which will dominate the shipping this year. According to it, “the shipping industry is currently passing through a downturn, which is likely to be prolonged. A moderation in demand and substantial increase in supply on account of new vessel additions is expected to keep freight rates subdued. Global dry bulk fleet capacity is 540 million dwt and an additional 256 million dwt i.e. 47 % of the existing fleet is likely to be added over the next two years. Global tanker capacity is 470 million dwt and an additional 122 million dwt i.e. 26% of the existing fleet is likely to be added over same period. Hence, there will be a substantial overhang from large fleet additions over the next couple of years. China has been the main driver of commodity demand. Though Chinese demand for coal has sustained, with China’s iron ore inventory at an all time high level of 96.9 million ton (MT), iron ore demand could see moderation over the next three or four quarters. Any slowdown in the Chinese commodity off take could lead to subdued demand for dry bulk carriers and thereby keep a tab on the up move in freight rates. The US and Europe are the main drivers of crude and refined oil products demand. As the recovery in both countries is likely to be modest, the demand for crude/product carriers is also likely to be subdued. Freight rates are expected to be under constant pressure on account of demand moderation and supply overhang. Hence, the operating performance of shipping companies is expected to be subdued.
Companies with high debt and lower fleet utilisation could also report reduction in profitability. However, the offshore shipping segment offers the best play in the entire shipping space on account of firmness in crude oil prices. In CY11, average crude prices have been at UD 111/barrel, which should lead to higher expenditure on exploration & processing leading to higher requirement of oil drilling assets and offshore vessels. Utilisation levels for most categories of rigs have sustained above 80% for major part of CY11. Average utilisation during H2CY11 for drillship, semisub and jack up has been 81%, 87%, and 80%, respectively. Sustained high utilisation levels are expected to have a positive impact on vessel day rates” concluded ICICI Securities.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- CNBM International Corporation - China
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Australian Coal Association
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
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