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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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Wednesday, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
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- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
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