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