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