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