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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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Thursday, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
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- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- The University of Queensland
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
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