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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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Wednesday, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected th ...
Monday, 02 April 12
BANGLADESH EYEING INDONESIA FOR COAL
COALspot.com - The high level executives of Center for Environmental and Geographic Information Services (CEGIS) of Bangladesh is visiting Ind ...
Monday, 02 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first quarter of the New Year ended with the BDI standing 42% above from the 26 years’ bottom low of 662 points on February 1st, and a pos ...
Saturday, 31 March 12
THE BDI CONTINUED TO MOVE UPWARD - VISTAAR
COALspot.com - The BDI continued to move upward and rose by 2.86 pct closing at 934 points.
The cape index was up by 3.14 pct closing at 1,412 po ...
Saturday, 31 March 12
SRI LANKA IMPORTS 152,555 MT OF INDONESIAN COAL IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, shipped 27.126* million tons of coal in February 2012, compared to 28.21* million to ...
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- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Minerals Council of Australia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
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