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