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