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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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Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
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- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Australian Coal Association
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
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