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Thursday, 02 February 12
NO RELIEF YET FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Although at the start of 2012 nobody can claim that the global seaborne trade has suddenly come to a halt, quite the contrary, it seems that the dry bulk market is reliving those dreadful late 2008 days. The lack of cargo demand, combined with the huge oversupply problems has caused the market to crash by almost 60% during January. The market’s benchmark, the BDI (Baltic Dry Index) kept falling yesterday, to end the session down by another 2.65% to just 662 points.
The only positive factor that one could argue, is the relative stabilization of the Capesize market, which lost just 0.07% yesterday to end at 1,446 points, way above the rest of the field. Panamaxes kept tumbling, this time by 4.14% to just 694 points, while Handysizes, which have been on the red for a few months now, have reached just 396 points (Baltic Handysize Index), losing an additional 2.46% yesterday.
According to the latest weekly report from shipbroker Fearnleys, “the Capesize market continues to be horrible. Rates and activity have not improved even after the Chinese have returned to work after the Lunar New Year holidays. Thus there is little to say in terms freight rate development except that it is flat. There is however an increased interest from short period takers, indicating a sentiment, that this market cannot fall much further, and that the premium payable for short period can easily be recovered if the market rebounds” said Fearnleys.
In a separate note, up to the end of last week, shipbroker Shiptrade & Services mentioned that “the Far East national holidays, the lack of cargoes combined with over supply of tonnage and the cyclones that returned in West Australia resulted in a very slow week in the cape market. Specifically, the average of the four T/C Routes closed the week at USD 5,566, the lowest level of the last eleven months. In spite the fact that with Columbia coal market produced some cargoes, rates for the T/A round concluded at around USD 5,000 and many owners preferred to keep their vessels drifting or at anchorage. The fronthaul was low as well with Tubarao/Quingdao fixing at USD 19,10 levels. Pacific was very quiet due to the holidays with Far East round voyage to be fixed at USD 7,000. Period activity was minimal with rate for 1 year remaining the same as last week’s said Shiptrade.
On the Panamax front, Fearnleys noted that “with the BPI at 694 we are now below the depressing market we experienced at the beginning of 2009. This week we did however see more fresh cargoes, but the tonnage list is just growing day by day. The grain season is about to kick off in Brazil and we see cargoes ready from 2nd half Feb onwards. The activity is still limited and the deals being done are being fixed at very low levels even below operating costs. This has resulted in some owners dropping anchor to wait until they see reasonable levels again. The Tarvs are now being fixed below USD 5k and the fronthauls are fetching around 14-15k depending on delivery. In the Pacific basin the rounds are being fixed around USD 5k. A one-year deal was reported this week with the mv Global Bonanza, 74kdwt/built ´11, being done basis delivery Feast at USD 10k daily” said Fearnleys.
Commenting on the Handy market, the shipbroker said that it was “another week of falling rates. In the US Gulf tonnage were fighting for the few fresh cargoes entering the market. Vessels fixed for Skaw-Passero direction were paid tick below 11k/day, and Continent positions concluded USD 2500 and USD 14k for US Gulf and Far East, respectively. The Pacific market remains quiet in spite of holidays getting over and overall sentiment remains negative. Indo-India fixed at around USD 5k dop south China and nickel cargoes also very less to support the market. Nopac cargoes are also less in numbers and mostly fixed on APS basis. A bit quiet on iron ore from India 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 are around USD 8k” concluded Fearnleys.
In a separate note, Shiptrade mentioned that “ECSA continued its low cargo volume production with the TA round falling at USD 6,000 levels while Med and Continent kept on having many open vessels and very few firm cargoes. In spite the low levels owners preferred to keep their vessels in Atlantic instead of making the fronthaul trip.
Pacific was really slow and the Chinese and Indian holidays produced too many spot vessels and very low rates on the few orders that were fixed with the round voyage concluding at USD 4,000. Charterers persisted in searching for period tonnage but even more decreased levels of USD 7-8,000 were not appealing to owners who avoided committing their vessels said Shiptrade.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
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- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- The University of Queensland
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Planning Commission, India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
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