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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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Tuesday, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
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- VISA Power Limited - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Planning Commission, India
- Sical Logistics Limited - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
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