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