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Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pushing the industry’s benchmark, the BDI (Baltid Dry Index) to new lows. As a result, the BDI took a nosedive yesterday to end the session to 1,552 points, losing a total of 4.43% on the day. The biggest contributor to this loss was the Capesize sector, which was down by an impressive 6.33%, while all other sub-segments were also on the red. The Supramax market was down by 1.55%, while the Panamax down by 1.24%.
Commenting on the Capesize market, the latest weekly report from shipbroker Fearnleys said that “for obvious reasons the market in general has been quiet through the holiday season. Few fixtures were concluded last week, and those few were done at lower levels. The early new year sentiment, together with a number of vessels already in ballast has pressed the market down further. The most recent fixtures from West Australia are down from the USD 11+ level to the upper USD 10´s, with a negative trend. On the front haul, the uncovered demand remaining for January is still unclear, as China is only just back at work, but there are not many vessels that can make January cancelling in Brazil. This could keep a bit of pressure on this leg.
The transatlantic market has not woken up yet. Period has been limited to some renewals in direct continuation for 12-month charter, and at flat USD 17-18k level, but this is not believed to be sustainable” said Fearnleys.
Similarly on the Panamax front, it mentioned that “the Panamax market experienced a slow start to 2012 with holidays still in some countries. Lack of trading in both hemispheres and a growing list of spot tonnage made the rates slip even further. Mid week we see some more cargoes in the Atlantic which should lead to more activity, but most likely not enough to stop the downward trend this week. Most of the major charterers cleared out their program prior Christmas, and we do not expect any major upturn in the market until 2nd half of January. Tarvs now being fixed around USD 14k while the front hauls are paid around USD 23/24k level. In the Pacific the rounds are being concluded at low teens. The period market experienced some more activity at the start of 2012, as more takers are there at the present levels. Some owners are willing to give options to the periods which in turn attract even more interest” said Fearnleys.
Meanwhile, in a separate report at the start of the week, ICICI Securities provided its own insight on the trends which will dominate the shipping this year. According to it, “the shipping industry is currently passing through a downturn, which is likely to be prolonged. A moderation in demand and substantial increase in supply on account of new vessel additions is expected to keep freight rates subdued. Global dry bulk fleet capacity is 540 million dwt and an additional 256 million dwt i.e. 47 % of the existing fleet is likely to be added over the next two years. Global tanker capacity is 470 million dwt and an additional 122 million dwt i.e. 26% of the existing fleet is likely to be added over same period. Hence, there will be a substantial overhang from large fleet additions over the next couple of years. China has been the main driver of commodity demand. Though Chinese demand for coal has sustained, with China’s iron ore inventory at an all time high level of 96.9 million ton (MT), iron ore demand could see moderation over the next three or four quarters. Any slowdown in the Chinese commodity off take could lead to subdued demand for dry bulk carriers and thereby keep a tab on the up move in freight rates. The US and Europe are the main drivers of crude and refined oil products demand. As the recovery in both countries is likely to be modest, the demand for crude/product carriers is also likely to be subdued. Freight rates are expected to be under constant pressure on account of demand moderation and supply overhang. Hence, the operating performance of shipping companies is expected to be subdued.
Companies with high debt and lower fleet utilisation could also report reduction in profitability. However, the offshore shipping segment offers the best play in the entire shipping space on account of firmness in crude oil prices. In CY11, average crude prices have been at UD 111/barrel, which should lead to higher expenditure on exploration & processing leading to higher requirement of oil drilling assets and offshore vessels. Utilisation levels for most categories of rigs have sustained above 80% for major part of CY11. Average utilisation during H2CY11 for drillship, semisub and jack up has been 81%, 87%, and 80%, respectively. Sustained high utilisation levels are expected to have a positive impact on vessel day rates” concluded ICICI Securities.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
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Showing 4911 to 4915 news of total 6871 |
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- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
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