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