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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, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
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- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
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