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