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