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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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Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
Monday, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
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Showing 4826 to 4830 news of total 6871 |
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- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
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