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