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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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Tuesday, 12 June 12
ITACHA RESOURCES BUYS SARANA MARINE - INSIDER STORIES
Insider Stories reported that, coal mining company PT Itacha Resources, a joint venture between Anthoni Salim and Glenn Yusuf, announced that Itacha ...
Monday, 11 June 12
BAHANA FORECASTS THE COAL PRICES WILL FALL FURTHER
COALspot.com - Growing US coal supplies + low shipping costs = Asia as target.
According to Irwan Budiarto analyst at Bahana Securities, US ...
Monday, 11 June 12
ASIAN COAL TRADING COMMUNITY EMBRACES API 5 AND API 8
Press Release - The Asian coal trading community is embracing the API 5 and API 8 indexes for its swap contracts.
The API 5 index represents 5,50 ...
Sunday, 10 June 12
FREIGHT MARKET EXPECTED TO REMAIN WEAK FOR NEXT FEW WEEKS - VISTAAR
COALspot.com - The BDI continued to fall this week and down by 2.99 pct closing at 877 points.
The Cape index also was down by 5.78 pct closing a ...
Friday, 08 June 12
ESSAR ENERGY RECEIVES FINAL APPROVAL FOR INDONESIAN COAL BLOCK
COALspot.com - Essar Energy plc, the India-focused integrated energy company, today announced that it has received final ‘Pinjam Pakai’ ...
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- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
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- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
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- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
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- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
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- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
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- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- The University of Queensland
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
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