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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, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
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- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
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