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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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Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
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- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- The University of Queensland
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
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- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Ministry of Mines - Canada
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- White Energy Company Limited
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
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- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
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- Siam City Cement - Thailand
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
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