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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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Friday, 30 September 11
INDIAN IRON ORE MARKET GETTING ACTIVE - FEARNLEYS AS
Handy
The Atlantic market continued its strong trend with fresh cargoes entering the market. Vessels open US Gulf fixed tick above US$ 27k back to t ...
Friday, 30 September 11
KRISHNAPATNAM PORT WINS GLOBAL PORT & COAL PORT OF THE YEAR AWARDS
COALspot.com - Krishnapatnam Port, a dynamic new generation world class port located in the East Coast of India has been adjudged the winner in the ...
Thursday, 29 September 11
INDONESIA'S MINERS FACE AN UNCERTAIN FUTURE - RUPERT WALKER
An evolving regulatory framework for the country's minerals industry could threaten its profitability and stifle investment.
The five-year surge ...
Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffer ...
Wednesday, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
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- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- PTC India Limited - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
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