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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, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
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- PTC India Limited - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- The University of Queensland
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
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