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