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Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on the day and ending the session down to just 1,193 points, which is almost half of where it stood during the final weeks of 2011. Leading the plunge was the Capesize sector which yesterday lost 5.82%, with the BCI (Baltic Capesize Index) ending down by 5.82%, while Panamaxes were also heavily hit, falling by an additional 4.26%.
In its latest weekly report, Fearnleys said on the Capesize market that "history repeats itself - with the new year starting with lack of cargoes and too many ships, just like the beginning of year 2011. We have seen some activity on the West Australia/China route but rates have been dropping and time being around mid 8´s. Now the activity x W.Australia is basically stopped due to cyclone. For the fronthaul, bids/offers are presently USD 21 against 22 and the short period market is dead, with FFA values suggesting these rates are in the lower 10,000s dly which does not make sense for most owners" said the shipbroker.
On a similar note, Shiptrade mentioned that " the market dropped heavily and pessimism took over. The average of the four T/C Routes decreased by USD 12,000, closing the week at USD 15,500 and this was reflected on the BDI which recorded a free fall of 983 points. Rates for front haul trips concluded at USD 32,500 per day and the T/A round, which was heavily affected by the rainfalls in Colombia, concluded at around USD 14,500, both significantly less than the week before. In the Pacific the majors appeared relatively quiet ending up at declining levels of USD 9.00 pmt towards the close for the Dampier/Qingdao. Owners preferred to ballast to Brazil or South Africa as west Australia lacked cargos followed by the huge amount of available tonnage in the East. Capesize rates are going to be supported by lower iron ore prices and coal demand for Winter heating in the coming months, thus freight rates are expected to stay sensitive to iron ore price developments Mining companies will prefer to sell their production in larger volumes rather than higher prices, as long as China appears ready to purchase" said Shiptrade.
Meanwhile, on the Panamax front, Fearnleys said that it "continued its softening trend, especially in the Pacific. In Q1 last year, the situation was quite similar and seems history is
repeating itself. On Tuesday this week, there were more activity but the instant burst of excitement and activity was soon replaced with the tough facts. The open vessels are simply out numbering the available cargoes hence rates continue to slip. China´s coal stocks are high after the rally in coal cgos from especially Indonesia prior Christmas. This is not helping the Pacific market and causing owners to offer in at lower levels than what´s last done. We are in between two grains seasons thus we do not expect any boom in the activity for the ECSA market either in the short term. In Australia, Port Hedland is closed down due to the approaching Tropical Cyclone Heidi. Tarvs now being fixed at around USD 13k while the fronthauls in the low/mid 20´s. Pac rounds keeps slipping and now achieve in the region of USD 8/9k" said Fearnleys.
Shiptrade also mentioned that "the first fixtures of the year followed the same decreasing patterns as the last week of 2011. In the Atlantic Basin the lack of Mid January cargoes in Continent led the owners ballast their ships towards USG/USEC. In the Med the market was really quiet as well, which was no surprise due to the past New Year’s Holiday. On the other hand owners who were keen to call Far East had to compete with the ballasters from North China/Korea. In the Pacific Basin the week started with optimism as LME vessels were reported at 10-11,000 basis delivery North China for Pacific rounds. However, the week closed with many similar vessels being reported at USD 9-10,000 basis delivery North China for same route. The average time charter rate of the four assessment routes dropped about USD 1,100 USD to 12,200 per day".
As for the Supramax trades, Shiptrade, a Piraeus-based shipbroker said that "rates dropped both at Atlantic and Pacific. On the Atlantic side owners faced a lack of cargoes in Continent and high competition which led them to ballast at USG. There, although some few fresh cargoes came out market decreased further due to the too many available vessels at the region. Trips to Persian Gulf and West Coast India were fixed at USD 29,000 levels and Transatlantic trips to Skaw/Passero at USD 24,000. Also Med was weak with trips to USG rating at USD 4-5,000 and front haul trips fixed around a lower USD 22,000. On the Pacific rates dropped further given that vessels from china were fixed at USD 5,000 for Indonesian round voyage with nickel ore. The imminent Chinese New Year’s combined with the abundance of existing and new building tonnages do not leave much hope for market revitalization, at least for the month to come" it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
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- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Bharathi Cement Corporation - India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
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