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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, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
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- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
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