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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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Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
Monday, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
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- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- GMR Energy Limited - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
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