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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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Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
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- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Central Electricity Authority - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
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