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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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Tuesday, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A l ...
Monday, 31 October 11
CHINAS HUNGER FOR INDONESIAN COAL AT THREE YEAR-HIGH AS WINTER NEARS - JOSEPH KIRSCHKE
COALspot.com - Chinese demand for power-station coal from Indonesia has soared to its highest level in three years, as central heating plants and po ...
Saturday, 29 October 11
ATLAS RESOURCES SEALS US$95 MIO LOAN - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, has secured US$95 mill ...
Saturday, 29 October 11
INDONESIA TO INDIA FREIGHT LIKELY TO REMAIN SOFT
COALspot.com - The market continued to slow down and all segment were down this week.
The biggest drop was in the Cape Index down by 8.19 pct&nbs ...
Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
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- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Minerals Council of Australia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Australian Coal Association
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
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