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