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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, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
Friday, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000 Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...
Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy
The market remained variable.
Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...
Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...
Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...
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- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- The University of Queensland
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Planning Commission, India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
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