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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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Tuesday, 04 October 11
INDONESIA RAISES COAL BENCHMARK (HBA) FOR FIRST TIME IN 4 MONTHS
COALspot.com - Indonesia raised the monthly reference price for sales in October by 2.56 percent, the first increase since June.
The Ministry of ...
Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifyi ...
Sunday, 02 October 11
INDIAN COAL IMPORTS PICKED UP - CAPT. REDDY
COALspot.com - The BDI dropped by 1 pct and Cape index dropped by 6 pct closing at 1,899 points and 3,136 points respectively. However all other seg ...
Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating ...
Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing ...
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- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
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