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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, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
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- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
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