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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, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
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- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Central Electricity Authority - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Australian Coal Association
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