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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, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
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- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
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