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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, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
Sunday, 19 February 12
THE SPOT FIXTURE RATES WERE REPORTED AT HIGH LEVELS - VISTAAR
COALspot.com - "The markets seems to holding back this week appears the momentum which picked up last week may slow down" - Capt. Reddy of ...
Sunday, 19 February 12
INDIKA ACQUIRES MULTI TAMBANGJAYA - INSIDER STORIES
Insider Stories reported that, PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agre ...
Friday, 17 February 12
COLOMBIA COAL PRODUCTION, EXPORTS JUMP IN 2011: GOVT - COLOMBIA REPORTS
Colombia Reports reported that, colombia's coal production jumped 15.4% in 2011 to 85.8 million tonnes versus the previous year while exports rose ...
Thursday, 16 February 12
GEARING UP FOR THE EMERGING OIL & GAS OPPORTUNITIES IN MYANMAR
Press Release - Myanmar Ministry of Energy and Centre for Management Technology (CMT) to Co-host MOGP (Myanmar Oil, Gas & Power) Summit on 28 - ...
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- PTC India Limited - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
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