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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, 27 June 12
DIRECTORATE GENERAL OF MINERAL AND COAL OF INDONESIA INTRODUCES ON-LINE SYSTEM FOR MINING PRODUCTS EXPORT APPROVAL
COALspot.com - Directorate General of Mineral and Coal of Indonesia has released "Clear and Clean" certificate for another 33 coal miners ...
Monday, 25 June 12
RIO TINTO MAKES FIRST COAL SHIPMENT FROM MOZAMBIQUE
Rio Tinto has started exporting premium hard coking coal from its Benga Mine in the Moatize Basin in Mozambique. The first shipment of 34,000 tonnes ...
Sunday, 24 June 12
SUPRAMAX FREIGHT MARKET FIRMED UP FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - This week all the segments gained and marked was firm in the Supramax and Handy size sector, where as the Cape and Panamax inde ...
Saturday, 23 June 12
COAL PRICES APPETITE FOR ROLLER-COASTER RIDES
COALspot.com - SGX AsiaClear OTC Coal Swaps have suffered something of a roller-coaster ride in terms of prices during this week. SGX’s Indone ...
Friday, 22 June 12
PRESENT SPOT WEAKNESS IS TEMPORARY, SEASONAL AND RISE AS WINTER APPROACHES - BUMI
COALspot.com - PT Bumi Resources Tbk, the world’s one of the largest coal producer and Indonesia’s largest multi grade coal miner has no ...
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- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- ASAPP Information Group - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- The University of Queensland
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
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