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