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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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Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
Monday, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
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- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
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