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