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