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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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Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
Thursday, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
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- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- PTC India Limited - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- The University of Queensland
- SMG Consultants - Indonesia
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
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