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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, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
Thursday, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...
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- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
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