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