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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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Thursday, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
Thursday, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
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- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Thai Mozambique Logistica
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