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