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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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Sunday, 09 October 11
FREIGHT MARKET ENDED WITH A POSITIVE DIRECTION - VISTAAR
COALspot.com - The market ended with a positive note with all the segments up except for handy size. The biggest gainer was Panamax index up by 11 p ...
Saturday, 08 October 11
INDONESIAN MINER PLANS $167M IPO TO FUEL SUMATRA COAL BOOM - JG
The Jakarta Globe reported that, coal miner Atlas Resources aims to raise as much as Rp 1.5 trillion ($167 million) in an initial public offering to ...
Friday, 07 October 11
MINING REGULATIONS , OBSTACLES AND GROWTH : INDIA VS INDONESIA - SUNIL K KUMBHAT
COALspot.com - The Govt of India has passed long pending Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace ...
Friday, 07 October 11
$100M FOR EXPANSION INTO KALIMANTAN MINING: AKR
The Jakarta Globe, one of the leading English news paper in Indonesia reported that, AKR Corporindo, a fuel and chemical distributor, has set aside ...
Thursday, 06 October 11
REALM SECURES 51% OF KATINGAN RIA COAL PROJECT IN CENTRAL KALIMANTAN
•Realm secures 51% of PT Katingan Ria Thermal Coal Project in Central Kalimantan
•Realm takes ownership of Kalres Limited
•Acquisit ...
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- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- The University of Queensland
- ASAPP Information Group - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Altura Mining Limited, Indonesia
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