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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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Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were hig ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
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- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- The University of Queensland
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
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