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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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Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
Friday, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
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- ASAPP Information Group - India
- Bhatia International Limited - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
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