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