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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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Thursday, 06 October 11
SOUTH EAST ASIAS AGGRESSIVE POWER DEMAND GROWTH WILL REQUIRE INVESTMENT OF US$125 BN BY 2020 - WOOD MACKENZIE
COALspot.com - Wood Mackenzie says that South East Asia’s demand growth for new power generation is so aggressive that new power generation in ...
Thursday, 06 October 11
CHINESE DEMAND FOR COAL IMPORTS TO MODERATE IN 2012 - MISWIN MAHESH
COALspot.com - We expect Chinese demand growth for imported steam coal to moderate over the next year. Steam coal imports into China will modera ...
Wednesday, 05 October 11
MINISTRY STICKING TO RAW COMMODITY EXPORT BAN DESPITE INDUSTRY FEARS - JG
The Jakarta Globe, the one of the leading English news paper in Indonesia, reported that, the details of a controversial new regulation that would b ...
Wednesday, 05 October 11
ATLANTIC AND PACIFIC BASINS BECAME TIGHTER FOR PANAMAX LAST WEEK - BRS
A slump for both the Capes and Panamaxes sent the BDI down 1% this week, falling to 1,899 points.
The Capes saw the greatest movement, sliding - ...
Wednesday, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
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- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
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