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