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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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Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
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- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- MS Steel International - UAE
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
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