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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, 06 August 12
3RD ANNUAL INDONESIA POWER
Press Release - 3rd Annual Indonesia Power is Indonesia’s premier power event, where commercial opportunities and new projects are identified. ...
Monday, 06 August 12
COAL EXPORTS COULD ADD $2B TO $6B ANNUALLY TO U.S. ECONOMY - HELLENIC SHIPPING
Business groups backing Pacific Northwest coal export proposals on Thursday lauded a new report that claims increased U.S. coal exports could bring ...
Sunday, 05 August 12
SUB-BIT INDONESIA COAL SWAPS ARE WAY UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.36 percent on Friday (3 August 2012) closing W-o-W but gained& ...
Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between ...
Sunday, 05 August 12
DRY BULK FREIGHT MARKET TO STAY WEAK NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com - The freight market continued to soften further in all segments.
The BDI was down by 8.68 pct closing at 852 points. The cape index ...
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- Neyveli Lignite Corporation Ltd, - India
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- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
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- Mercator Lines Limited - India
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- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
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- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
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- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
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- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
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- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
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- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- The University of Queensland
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
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- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
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- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
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