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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, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
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- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Parliament of New Zealand
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- PTC India Limited - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
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