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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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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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- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
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