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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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Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
Monday, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
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- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Australian Coal Association
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- The University of Queensland
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
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