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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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Thursday, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
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- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- The University of Queensland
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- London Commodity Brokers - England
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
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