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