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