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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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Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
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- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
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