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