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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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Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
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- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
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