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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, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
Friday, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS
Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's ...
Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market ...
Thursday, 07 June 12
COAL EXPORT TAX NOT RATIONAL: MINISTER - THE JAKARTA POST
Trade Minister Gita Wirjawan has criticized as irrational the idea to restrict coal exports by imposing an export tax, According to The Jakarta post ...
Thursday, 07 June 12
BY 2022 PLN IS EXPECTED TO BURN AROUND 125 MILLION TONS OF COAL
COALspot.com - Indonesia's state owned electricity company's (PLN) coal consumption is expected to reach 125.7 million tons by 2012.
Nur Pamudj ...
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- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- White Energy Company Limited
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
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