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