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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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Thursday, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
Tuesday, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
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- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- White Energy Company Limited
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
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