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Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with nothing to compensate for the huge oversupply of vessels. As a result, the BDI (Baltic Dry Index), the industry’s benchmark has kept on falling, as has been the case throughout the month. Yesterday, it ended down by 2.85% to just 784 points and dangerously close to the lows of 2008, when the shipping market had plunged to a halt, as a result of the global financial crisis. All major indices were down yesterday once again, with Capesizes losing 0.99% to 1,497 points, while Panamaxes were hit hard, falling by 3.91% to just 909 points. Similarly, Supramaxes fell by 2.45%, while Handies were also down to just 444 points, down by another 2.2% on the day.
According to the latest weekly report from shipbroker Fearnleys, commenting on the Capesize market it said that “as expected it has been a quiet week with few fixtures and more ships drifting and at anchorage. For the west Australia/China trade, the big three have been absent, only a handful of fixtures around USD 7.60 7.75 range. Tubarao/Qingdao is more or less dead whilst there are talks about some really horrible fixtures for the backhaul trade. However the details are being kept private, which is not a big surprise. Owners are expecting more activity from after Chinese New Year, but time being one need to use the imagination in order to see the signs of this happening” said the shipbroker.
In a separate note, Shiptrade Services mentioned that “Capes had another terrible week since the lack of cargoes, over supply of tonnage and the bad weather conditions did not improve since last week. Also, Chinese holiday contributed even more to rates down fall and put every hope of improvement in halt. The average of the four T/C Routes decreased closing the week at USD 6,700 and the BDI fell down by 169 points. Fronthaul trips were done at USD 21,000 compared to the USD 28.500 last week. Charterers at Far East moved for period tonnage at USD 12,500 levels for 4/6 months and USD 13,000 for 11/13 months”.
On the Panamax front, Fearnleys said that “the market is falling further in both hemispheres for simple reasons - lack of cargoes and a growing list of open positions. With the Chinese celebrating the entry of Year-of-the-dragon and Singapore away most of the week, the market is suffering from low activity and lack of any fresh stimuli. In the Atlantic rates varies from still healthy 10k on T/C to far less on voyage. Fronthaul also sliding with rates reported at 19k+300 GBB for USG-China. In the Pacific the effect of the holidays and lack of cargoes is even more apparent. NOPAC rates at 7k+300 GBB hardly achievable any longer. Mixed expectations for the activity and a possible market upturn among the market players when the Holidays are over in the Far East. However, a coming grain season in ECSA and more mineral activity from Brazil may turn the tide suddenly” said Fearlneys.
Similarly, Shiptrade noted that “in the Atlantic Basin lack of cargoes in the Continent led the vessels ballast towards USG. In combination with the Chinese holidays which made things even harder as Chinese receivers were not there to conclude the deals. A few iron ore requirements fm USG and some Petcoke cargoes were not enough to replace the lack of requirements in the Continent hence physical market dropped heavily In the Pacific the market was extremely quiet as all the cargoes sold to China were fixed prior holiday and only a few nickel ore and coal orders ex SE Asia to India were fixable. The period rates in the Far East were around 8000 for 3/5 months” said Shiptrade.
Finally, on the Handy market, Fearnleys concluded that “the market took yet another dive this week after a dull start to 2012. The activity has decreased considerably with Chinese New Year upon us, and also holidays in Singapore. We do see some more activity mid week with new cargos entering the market, but the amount of open tonnage out numbers the available cargos. The Skaw/USG route is now trading at a tick below USD 4k, while the USG/Skaw is still fixing at a healthier USD 13k daily. The fronthaul candidates are fetching around USD 18,500. The Pacific market dives deep due to ongoing Chinese New Year holidays and fresh supply of tonnages and less cargoes. Indo- India fixed at around USD 6k dop south China and nickel ore cargoes also very less to support the market. Iron ore from India is dead and rates remain at USD 8k from WCI and USD 7k from ECI. RBCT rounds are fixed on APS basis at USD 10k + 300k BB. Red Sea fertiliser cargoes fixed at low 20s to India. Short period activity very less and rates around USD 7500” said Fearnleys.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
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- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
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