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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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Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
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- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- White Energy Company Limited
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
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