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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, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
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- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- The University of Queensland
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
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