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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, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
Tuesday, 03 July 12
DRY BULK MARKET INCHED FORWARD AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward at the beginning of the new week, prior to the US holidays regarding the celebration of the 4th of July, which is ...
Monday, 02 July 12
ORPHEUS STRENGTHENS REVENUE STREAM WITH NEW ROYALTY AGREEMENT AT THE B2 COAL PROJECT
Orpheus Energy (ASX:OEG) is pleased to advise that it has executed a life of mine Royalty Agreement with Indonesian mining contractor PT Debbia Mini ...
Monday, 02 July 12
DRY BULK DEMAND TO RISE TO 3.6 BILLION TONNES IN 2012, BUT NEW BUILDING DELIVERIES ARE
In its latest analysis on the dry bulk market fundamentals, DVB Bank said that dry bulk cargo demand is forecast to rise to approximately 3.6 billio ...
Sunday, 01 July 12
AUSTRALIAS CARBON TAX - SUNIL K KUMBHAT
COALspot.com - Climate Change
Climate change and global warming have now become buzzwords the world over. The disastrous consequences for global ...
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- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- The University of Queensland
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
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