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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, 27 February 12
INDONESIAN COAL EXPORTS TO CHINA DROPS 39.76 PERCENT IN JANUARY 2012
COALspot.com: Indonesia, the world largest coal exporter, shipped 28.21* mln mt of coal in January 2012, slightly lower than its December 2011 ...
Monday, 27 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The pessimism in the dry market persists with the Baltic Dry Index still trying to find a steady pace of growth and average time charter earnings fo ...
Sunday, 26 February 12
THE FREIGHT RATES FOR INDONESIA TO INDIA IS LIKELY TO BE FIRM FOR NEXT 2/3 WEEKS - VISTAAR
COALspot.com – “There was not much change in the BDI and other indices this week except for the Panamax which was down by 11.91 pc ...
Friday, 24 February 12
DRY BULK MARKET POSTS FIRST REBOUND IN A WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was expected since mid-week, the dry bulk market's benchmark, the BDI (Baltic Dry Index) has managed to put a stop in a 6-day losing rally, endi ...
Thursday, 23 February 12
2.5 PANAMAX VESSELS PER AVAILABLE CARGO FOR MARCH DATES - FEARN BULK
Handy
Another depressing week for Supras in both basins. Lack of fresh business and over-supply of tonnage in the Atlantic pushed rates south. Cont ...
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- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- VISA Power Limited - India
- Tamil Nadu electricity Board
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
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