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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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Saturday, 12 November 11
DRY BULK MARKET REGAINS SOME OF THE LOST GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which ha ...
Friday, 11 November 11
PETROCOM ENERGY PLANS $40M TO BUILD COAL PLANT IN CILEGON - JP
The Jakarta Post reported that, Hong Kong-based Petrocom Energy Ltd has unveiled plans to invest up to US$40 million on a proposed coal-blending fac ...
Friday, 11 November 11
GOVT WAITS LEGAL DECISION ON BUKIT ASAM, ADARO DISPUTE - JP
The Jakarta Post reported that, The government says that it will not interfere in the settlement process of the dispute between state coal miner PT ...
Thursday, 10 November 11
INDONESIAN REFERENCE COAL PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the November 2011 Indonesian Coal Reference Price for thermal coal at U ...
Tuesday, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
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- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Planning Commission, India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
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