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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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Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
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- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Parliament of New Zealand
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Australian Coal Association
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
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