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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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Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
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- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Aditya Birla Group - India
- White Energy Company Limited
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
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