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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, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
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- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- The University of Queensland
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- VISA Power Limited - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
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