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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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Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
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- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- PTC India Limited - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
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