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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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Friday, 19 August 11
INDIA IMPORTS LESS INDONESIAN COAL THAN CHINA IN JULY
COALspot.com - Indonesia shipped 31.30 Million tons of coal in July 2011, up by 10.69 percent compared to June's export of about 28.27 ...
Thursday, 18 August 11
INDONESIAS PROPOSED LOW GRADE COAL EXPORT BAN WILL NOT HAVE A SIGNIFICANT IMPACT ON INDIA - MISWIN MAHESH
COALspot.com - The Indonesian government is currently in the process of drafting a new regulation that could ban the export of low-grade coal by Jan ...
Thursday, 18 August 11
MARUBENI ACQUIRED 42.86% OF YTL JAWA POWER
COALspot.com - Marubeni Corporation (Marubeni) has completed the acquisition of 42.86 percent of the shares of YTL Jawa Power Holdings BV from YTL P ...
Wednesday, 17 August 11
CME LAUNCHES ARGUS COKING COAL SWAP FUTURES
COALspot.com - Argus media reported that, leading exchange CME Group will list an Australian coking coal swap futures contract for trading on the Ny ...
Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
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- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
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