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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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Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
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- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Australian Coal Association
- The University of Queensland
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
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