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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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Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
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- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- White Energy Company Limited
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
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