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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, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
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- TeaM Sual Corporation - Philippines
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- Energy Development Corp, Philippines
- White Energy Company Limited
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
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- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Australian Coal Association
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- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
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- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
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- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
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- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
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- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- The University of Queensland
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- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
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