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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, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
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- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- MS Steel International - UAE
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
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