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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, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
Thursday, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
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- VISA Power Limited - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
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