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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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Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
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- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Australian Coal Association
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- PTC India Limited - India
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