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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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Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
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- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
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