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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, 01 February 12
2% OF IBPS TOTAL CONCESSION AREA CONTAINS TOTAL COAL RESOURCE OF 56.1 MILLION TON
COALspot.com - PT. Britmindo, a mine consulting firm, has finalized PT. Insani Bara Perkasa (IBP) first JORC (Joint Ore Reserves Committee) res ...
Tuesday, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
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- Mintek Dendrill Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
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