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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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Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
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- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- The University of Queensland
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- PTC India Limited - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
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