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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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Wednesday, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
Monday, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
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- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
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