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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, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
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- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
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