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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, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
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- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
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