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