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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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Tuesday, 18 October 11
INDONESIAN PRESIDENT APPOINTS JERO WACIK AS NEW MINISTER OF ENERGY & MINERAL RESOURCES
COALspot.com - Jero Wacik has been appointed as minister of energy and mineral resources of Indonesia replacing Darwin Saleh and Prof. Widjajono Par ...
Tuesday, 18 October 11
DELTA DUNIA MAKMUR HAS PRODUCED 3.0 MILLION TONS OF COAL LAST MONTH
COALspot.com - PT. Delta Dunia Makmur, wholly owned subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), Delta Dunia Makmur has removed 1.4 million bcm ...
Monday, 17 October 11
KOWEPO TO BUY 260,000 MT BITUMINOUS COAL
COALspot.com - KOWEPO has issued a spot tender for 260,000MT of minimum 5,600kcal/kg NAR Bituminous Coal.
The tender document also mentioned tha ...
Monday, 17 October 11
CAPESIZE SHIPPING COSTS CLIMB TO 10-MONTH HIGH ON ORE IMPORTS
The cost to hire capesize vessels climbed to a 10-month high as rising imports of iron ore to China boosted demand for the ships.Monthly iron-ore sh ...
Saturday, 15 October 11
BUNKER PRICES AND DEMANDS PUSHED FREIGHT RATES UP - VISTAAR
COALspot.com - The market continued to be firm with all segments moving up with biggest gain in Handy size segment up by 15 pct. The BDI was u ...
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- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
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