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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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Sunday, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
Saturday, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
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- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
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