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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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Thursday, 26 April 12
BUKIT ASAMS 1Q OPERATING PROFIT MARGIN HAS INCREASED BY 6% TO RP. 1 TRILLION
COALspot.com - PT. Bukit Asam (Persero), the Indonesia’s state owned coal miner's 1Q, 2012 revenue has increased by 31% to Rp. 3.02 trillion ...
Thursday, 26 April 12
TAIPOWER TO BUY 1.15 MILLION TONS OF 5000 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 1.125million tons of sub-bituminous coal for Taipower thermal power plant through open tender ...
Thursday, 26 April 12
TAIPOWER TO BUY 375,000 MT OF 4800 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 375,000 metric tons of low sulfur sub-bituminous coal for Taipower thermal power plant ...
Thursday, 26 April 12
ADK SHIPPED 28,000 TONNES OF COAL THIS MONTH
COALspot.com - Orpheus Energy (ASX:OEG) has announced that four coal barges carrying a total of approximately 28,000 tonnes of ADK (Alam Duta K ...
Thursday, 26 April 12
DRY BULK CARRIERS RENTER FLEET AFTER IDLING, ON MARKETS RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be back on track, not only solidifying the gains of the past couple of weeks, but also racing to new heights, recuperra ...
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- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Planning Commission, India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
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