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