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