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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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- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
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