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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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Friday, 25 November 11
DISPUTE BETWEEN GIANT MINING FIRMS ENDS IN LAHAT - THE JAKARTA POST
The Jakarta Post reported that, prolonged dispute taking place in the South Sumatra regency of Lahat and involving two giant mining companies PT Buk ...
Friday, 25 November 11
DRY BULK MARKET LOSING STEAM, FAST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s been a week of falls for the dry bulk market this one, leaving ship owners with a sour taste in their mouths, as evidence of a recovery i ...
Thursday, 24 November 11
INDONESIA/INDIA SPMX TC AROUND $ 7/8K AND AROUND $ 12/13.00 PMTS ON VOYAGE BASIS - FEARNLEYS
Handy
Last week ended on a positive note in the Atlantic however the activity levels are somewhat reduced. Owners are asking in excess of USD ...
Thursday, 24 November 11
DRY BULK MARKET KEEPS LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was lower once again on Wednesday, with the industry’s benchmark, the Baltic Dry Index (BDI) ending the session down by 1. ...
Tuesday, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
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- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- The University of Queensland
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
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