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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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Monday, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
Thursday, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
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- MS Steel International - UAE
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
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