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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, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
Saturday, 26 November 11
THE FREIGHT MARKETS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market were down probably with the sentiments of global financial markets and all segments were down.
The BDI was up down by 4 ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Parliament of New Zealand
- The University of Queensland
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
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