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