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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, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
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- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- White Energy Company Limited
- Petron Corporation, Philippines
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
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