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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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Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
Friday, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
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- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- MS Steel International - UAE
- White Energy Company Limited
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- The University of Queensland
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
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