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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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Friday, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
Friday, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still stand ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
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- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- The Treasury - Australian Government
- Australian Coal Association
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- The University of Queensland
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
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