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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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Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
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- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- White Energy Company Limited
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
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