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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, 27 September 11
A STRONG REBOUND FOR THE CAPE MARKET - BRS
A strong rebound for the Cape market, as cargoes continued to flow into the market and tonnage remained tight in the Atlantic, according to Barry Ro ...
Tuesday, 27 September 11
INTRACO SEALS US$25.3 MIO ORDER - INSIDER STORIES
Insider Stories reported that, Heavy equipment distributor PT Intraco Penta Tbk (INTA) obtained a US$25.3 million order on hand of heavy equipments ...
Sunday, 25 September 11
THE CHARTER RATES FOR INDONESIA TO INDIA WAS FIRM - VISTAAR
COALspot.com - The freight market moved up sharply with the cape Index up by 11 pct pushing the BDI by almost 6 pct and closing at 1,920 point ...
Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those wi ...
Friday, 23 September 11
ICMA TO BUILD UPGRADE FACILITIES TO ANTICIPATE BAN ON LOW-GRADE COAL EXPORT BY 2014
COALspot.com - January to August of this year, Indonesia’s coal production had already reached 235 million tons. Earlier estimates had targete ...
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- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- White Energy Company Limited
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
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