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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, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
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- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Posco Energy - South Korea
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- The University of Queensland
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
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