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Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fall in the start of the week and reach just 702 points, down by 24 on the day. It’s been the worst start of the year for years, with January proving to be the most difficult month for ship owners, as a result of newbuilding deliveries, especially in the Capesize sector. As a result, the BDI is now trading dangerously close to the lows reached on the aftermath of the global financial crisis some three and a half years ago (start of December of 2008, when the index was trading just above 660 points).
Yesterday, all major indices were down, with Panamaxes still suffering dearly. The relative Baltic Panamax Index (BPI) retreated by 50 points to end the session at just 765 points, while the Capesize Index proved a bit more resilient, losing just 9 points to 1,456. Still, the smaller Handysizes are still suffering, recording loss after loss for a series of weeks now. As a result, the BHSI (Baltic Handysize Index) has now fallen to just 416 points.
According to the latest weekly report from Barry Rogliano Salles (BRS), “with Chinese New Year marking an unofficial pause in the market, all sizes ended the week in the "red". The BDI stood at 726 points (-15.8%) while the BCI ended at 1465 (-5.7%), the BPI at 815 (-20.1%), the BSI at 695 (-13.9%) and the BHI at 426 points (-12.2%). In the coal markets, it was announced that China overtook Japan as the largest coal importer in the world in 2011,pushing Japan off the top spot. Although Japan’s drop is partly a result of problems caused by the Japanese earthquake, China could retain pole position in 2012” said the Paris-based shipbroker.
Referring to the Capesize market, BRS noted that “another 17% was knocked off the Capesize 4TC last week as a combination of Chinese holidays and Australian weather problems brought rates quickly down. By Friday, the 4TC was at $5,566, a level not seen for eleven months. The cyclone in western Australia saw orders from the Pacific dry up, whi le there was also a corresponding drop in activity in the Atlantic. West Australia-China was quoted as low as $7.65, while Tubarao-China was at $19.35, with $19.10 reported done during the week. Translatantic rounds were around $5,000. Monday saw another $76 deleted, bringing the 4TC to $5,490” it said.
In the Panamax front, the shipbroker mentioned that “the slide of the market continued from the previous week with a dramatic drop in rates over the Chinese New Year period in what was a very muted market with little to report. The 4TC shaved off $1,643 w-o-w whilst TA,FH and the Pacific all took a substantial hit losing $2,156, $2,387 and $912 respectively. The BH now stands in negative territory at -$950 per day. The outlook remains bleak with tonnage massing and little cargo being apparent worldwide, this on top of high stockpiles which have further contributed to the slackening in demand” said the report.
Finally, in the Supramax/Handy segment of the market, BRS said that “during the last week, the market has deteriorated further across the board. While the East spot market has been relatively stable at very low levels, period rates went down further. The Atlantic market has softened significantly during the last week. On the Continent, we have seen tonnage accumulating and Supramax rates for scrap runs to the Med have gone down from around mid teens to around $10,000 last week. Some isolated bad examples, such as a 45,000 dwt mid 90s built ship, fixed for this run at $8,900, are certainly not always immediately representative but definitely illustrate the downward trend. A remarkable downturn has also been witnessed in the US Gulf where the index rate for a trip to Skaw Passero is now set to break the $12,000 mark. From ECSA the days are basically over where owners can demand a reasonable ballast bonus. Very low teens are now the target for grain charterers basis aps upriver for a trip to Skaw/Passero. For trips out, Supras should be able to earn mid $10,000 basis dop west Africa. It remains to be seen if the return of the Chinese market players will have a significant impact on rates” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
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- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- White Energy Company Limited
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- The University of Queensland
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
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