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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, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
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- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Australian Coal Association
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Aditya Birla Group - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
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