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