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