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