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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, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
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- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- London Commodity Brokers - England
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Australian Coal Association
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- White Energy Company Limited
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
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