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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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Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
Monday, 22 August 11
NTPC TO IMPORT 16 MILLION TON OF COAL TO BRIDGE THE GAP
COALspot.com - NTPC to import 16 million tons of imported coal, which is equivalent to 23-24 million tons of Indian coal to bridge the gap.
" ...
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- Central Java Power - Indonesia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
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