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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, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
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- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Economic Council, Georgia
- Planning Commission, India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Australian Coal Association
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
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