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