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