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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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Tuesday, 07 February 12
DRY BULK MARKET FINALLY STOPS DECLINE, POSTS FIRST RISE IN MORE THAN A MONTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After falling to near record lows, not seen since the mid-80s the dry bulk market has finally stopped its path to "hell", with the industr ...
Saturday, 04 February 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 6,000 PER DAY - VISTAAR
COALspot.com - The markets continued to soften which dropped by almost 11 pct and BDI closing at 647 points.
The drop in BDI was mainly due to dr ...
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 ...
Wednesday, 01 February 12
KRISHNAPATNAM PORT - GOING DEEP TO SOAR HIGH
COALspot.com - Krishnapatnam Port now rightfully claims as the deepest draft port in India, as it has started accepting vessels with maximum permiss ...
Wednesday, 01 February 12
IN JAMBI, MOST MINING COMPANIES LACK 'CLEAR-AND-CLEAN' PERMITS - JP
More than three-quarters of the 386 mining companies in Jambi lack “clear-and-clean” certifications from the government, according to an ...
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- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- PTC India Limited - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
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