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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, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
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- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Planning Commission, India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
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