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