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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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Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
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- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- PTC India Limited - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
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