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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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Monday, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
Sunday, 19 February 12
THE SPOT FIXTURE RATES WERE REPORTED AT HIGH LEVELS - VISTAAR
COALspot.com - "The markets seems to holding back this week appears the momentum which picked up last week may slow down" - Capt. Reddy of ...
Sunday, 19 February 12
INDIKA ACQUIRES MULTI TAMBANGJAYA - INSIDER STORIES
Insider Stories reported that, PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agre ...
Friday, 17 February 12
COLOMBIA COAL PRODUCTION, EXPORTS JUMP IN 2011: GOVT - COLOMBIA REPORTS
Colombia Reports reported that, colombia's coal production jumped 15.4% in 2011 to 85.8 million tonnes versus the previous year while exports rose ...
Thursday, 16 February 12
GEARING UP FOR THE EMERGING OIL & GAS OPPORTUNITIES IN MYANMAR
Press Release - Myanmar Ministry of Energy and Centre for Management Technology (CMT) to Co-host MOGP (Myanmar Oil, Gas & Power) Summit on 28 - ...
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- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- The University of Queensland
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
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