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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, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
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- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
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