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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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Saturday, 17 September 11
GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE FOR US$ 1.26 BILLION
COALspot.com - GVK group, India’s leading infrastructure developer,confirmed arrangements for the acquisition of a strategic part of large, hi ...
Saturday, 17 September 11
INDIA'S GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE PROJECTS IN AUSTRALIA
COALspot.com - GVK group, India’s leading infrastructure developer, today confirmed arrangements for the acquisition of a strategic part of la ...
Friday, 16 September 11
DELTA DUNIA MAKMUR REMOVED 30.9 MILLION BCM OVERBURDEN IN AUGUST 2011
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 30.9 million bcm (+13.2% YoY) overburden in August 2011 while coal production was at 2.9 ...
Thursday, 15 September 11
RUSSIAN COAL EXPORTS UP 10.9% IN JAN-AUG TO 71.50 MILLION TONS - PORT NEWS / HELLENIC SHIPPING
Port News reported that, Coal exports from Russia in January-August 2011 grew by 10.9% compared with the same period last year, to 71.50 million ton ...
Thursday, 15 September 11
INDIAN GOVT PLANS TO DEVELOP 9 NEW MAJOR PORTS BY 2016 - INVEST MONEY / HELLENIC SHIPPING
The government has announced to make a investment of more than Rs 22,000 crore (approximately US$ 4,623,791,331) to develop nine new major ...
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- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- White Energy Company Limited
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
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