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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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- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Petron Corporation, Philippines
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