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