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