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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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- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
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