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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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Monday, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
Thursday, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
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- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- White Energy Company Limited
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Australian Coal Association
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
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