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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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Saturday, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
Friday, 27 July 12
PACIFIC MARKET REMAINED FLAT - FEARNLEYS AS
Handy
The Atlantic market continued its downward trend from last week with what appears to be a summer lull across the board. A trip from the USG t ...
Wednesday, 25 July 12
BUKIT ASAMS H1 REVENUE JUMPED BY 13 PERCENT
COALspot.com - PT Bukit Asam (Persero), Tbk., the state owned coal miner's revenue in H1 2012, has jumped 13 percent to IDR 5.79 trillion (approxim ...
Wednesday, 25 July 12
BUMI RESOURCES MINERALS SECURED PINJAM PAKAI FOR ITS ZINC AND LEAD PROJECT
COALspot.com - PT Bumi Resources Minerals Tbk. ("BRMS" or "the Company") today reported that its 80% owned subsidiary, PT Dairi ...
Tuesday, 24 July 12
SHIP OWNERS WAITING FOR SHIP PRICES TO FALL FURTHER BEFORE MOVING IN MORE AGGRESSIVELY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the summer season already well under way and many ship owners getting ready for the autumn, the sale & purchasing activity of second hand v ...
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- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
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