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