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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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Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
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- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Planning Commission, India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- PTC India Limited - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Central Electricity Authority - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
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