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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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Thursday, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
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- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
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