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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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Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
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- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Australian Coal Association
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
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