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